DIAMONDROCK HOSPITALITY COMPANY ANNOUNCES TAX TREATMENT OF 2024 DIVIDENDS

Rhea-AI Summary

DiamondRock Hospitality Company (NYSE: DRH) has released the tax treatment details for its 2024 dividend distributions for both common and Series A preferred stockholders. For common stock, the company paid quarterly dividends of $0.03 per share for the first three quarters, followed by an increased dividend of $0.23 per share in the fourth quarter. The total common stock dividend for 2024 was $0.32 per share.

For Series A preferred stock, DRH maintained consistent quarterly payments of $0.515625 per share throughout 2024, totaling $2.0625 per share annually. All distributions for both common and preferred shares qualify as ordinary dividends and Section 199A dividends for tax purposes.

Positive

• Significant increase in Q4 common stock dividend to $0.23 from $0.03 in previous quarters
• Consistent quarterly preferred stock dividend payments maintained at $0.515625 per share
• All dividends qualify for Section 199A tax treatment, providing potential tax benefits to shareholders

Negative

• None.

BETHESDA, Md., Jan. 24, 2025 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) announced the following tax treatment of the 2024 distributions to holders of the Company's common and Series A preferred stock.

Security Description	Ticker Symbol	Record Date	Payable Date	Total Distribution per Share	Ordinary Dividends (Box 1a)	Section 199A  Dividends (Box 5)
Common	DRH	3/29/2024	4/12/2024	$0.030000	$0.030000	$0.030000
Common	DRH	6/28/2024	7/12/2024	$0.030000	$0.030000	$0.030000
Common	DRH	9/30/2024	10/11/2024	$0.030000	$0.030000	$0.030000
Common	DRH	12/31/2024	1/14/2025	$0.230000	$0.230000	$0.230000
Series A Preferred	DRH Pr A	3/18/2024	3/29/2024	$0.515625	$0.515625	$0.515625
Series A Preferred	DRH Pr A	6/18/2024	6/28/2024	$0.515625	$0.515625	$0.515625
Series A Preferred	DRH Pr A	9/20/2024	9/30/2024	$0.515625	$0.515625	$0.515625
Series A Preferred	DRH Pr A	12/20/2024	12/31/2024	$0.515625	$0.515625	$0.515625

Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of the Company's distributions.

About the Company

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 37 premium quality hotels and resorts with over 10,000 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment. For further information on the Company and its portfolio, please visit DiamondRock Hospitality Company's website at www.drhc.com.

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SOURCE DiamondRock Hospitality Company

FAQ

What is DiamondRock Hospitality's (DRH) total common stock dividend for 2024?

DiamondRock Hospitality's total common stock dividend for 2024 was $0.32 per share, consisting of three $0.03 quarterly payments and a $0.23 payment in Q4.

How much did DRH increase its common stock dividend in Q4 2024?

DRH increased its common stock dividend from $0.03 to $0.23 per share in Q4 2024, representing a 667% increase.

What is the annual dividend amount for DRH Series A preferred stock in 2024?

The annual dividend for DRH Series A preferred stock in 2024 was $2.0625 per share, paid in quarterly installments of $0.515625.

Are DiamondRock Hospitality's 2024 dividends qualified for Section 199A tax treatment?

Yes, all of DiamondRock Hospitality's 2024 dividends for both common and preferred stock qualify as Section 199A dividends.