CORRECTING and REPLACING Winston Hotels Inc. Reports Income Tax Treatment for 2005 Common and Preferred Stock Shares
06 Febbraio 2006 - 11:40PM
Business Wire
Winston Hotels, Inc. (NYSE: WXH) reported in a press release the
income tax treatment for 2005 distributions to holders of its
common stock and preferred stock. The January 24, 2006 press
release contained an error. The corrected release is set forth
below in its entirety. Subsequent to January 24, 2006, Winston
Hotels, Inc. determined that its 2005 earnings and profits were
higher than originally reported. The increase results in full
taxability for all of the March, June and September 2005 common and
preferred stock distributions. In addition, a portion of the
preferred distribution declared in December 2005 but paid in
January 2006 was paid out of Winston Hotels, Inc.'s 2005 earnings
and profits. Pursuant to Internal Revenue Code Section 857(b)(9),
these distributions are required to be included in the taxpayer's
2005 taxable income. The remaining amount of the preferred
distribution paid in January 2006 will be subject to taxation in
2006. Therefore, the corrected common and preferred distributions,
as recalculated below, are taxable to shareholders in 2005. The
corrected release reads: WINSTON HOTELS INC. REPORTS INCOME TAX
TREATMENT FOR 2005 COMMON AND PREFERRED STOCK SHARES Winston
Hotels, Inc. (NYSE: WXH), today announced that the income tax
treatment for the 2005 Common Stock distributions for Winston
Hotels, Inc., (CUSIP #97563A 10 2) traded under the ticker symbol
WXH is as follows: -0- *T Dividends Long-Term Declaration Record
Payment Paid Per Ordinary Return of Capital Date Date Date Share
Income Capital Gain
----------------------------------------------------------------------
3/10/05 3/31/05 4/15/05 $0.15 $0.15 $0.00 $0.00
----------------------------------------------------------------------
6/13/05 6/30/05 7/15/05 $0.15 $0.15 $0.00 $0.00
----------------------------------------------------------------------
9/21/05 9/30/05 10/14/05 $0.15 $0.15 $0.00 $0.00
----------------------------------------------------------------------
Total: $0.45 $0.45 $0.00 $0.00 Percentage: 100% 100% 0% 0% *T The
Company also announced that the income tax treatment for the 2005
Series B Preferred Stock distributions for Winston Hotels, Inc.,
(CUSIP #97563A 30 0) traded under the ticker symbol WXH PrB is as
follows: -0- *T Long- Dividends Term Declaration Record Payment
Paid Per Ordinary Return of Capital Date Date Date Share Income
Capital Gain
----------------------------------------------------------------------
3/10/05 3/31/05 4/15/05 $0.50 $0.50 $0.00 $0.00
----------------------------------------------------------------------
6/13/05 6/30/05 7/15/05 $0.50 $0.50 $0.00 $0.00
----------------------------------------------------------------------
9/21/05 9/30/05 10/14/05 $0.50 $0.50 $0.00 $0.00
----------------------------------------------------------------------
12/12/05 12/30/05 01/16/06 $0.36 $0.36 $0.00 $0.00
----------------------------------------------------------------------
Total: $1.86 $1.86 $0.00 $0.00 Percentage: 100% 100% 0% 0% *T The
company did not incur any foreign taxes. About the Company Raleigh,
North Carolina-based Winston Hotels, Inc. is a real estate
investment trust specializing in the development, acquisition, and
repositioning of, and provision of subordinated financing to,
premium limited-service, upscale extended-stay and full-service
hotels, with a portfolio increasingly weighted toward the leading
brands in the lodging industry's upscale segment. The Company
currently owns or is invested in 56 hotel properties in 17 states
having an aggregate of 7,668 rooms. This includes 49 wholly owned
properties with an aggregate of 6,720 rooms, a 60 percent ownership
interest in a joint-venture that owns one hotel with 138 rooms; a
49 percent ownership interest in a joint venture that owns one
hotel with 118 rooms, a 48.78 percent ownership interest in a joint
venture that owns one hotel with 147 rooms, and a 13.05 percent
ownership interest in a joint venture that owns four hotels with an
aggregate of 545 rooms. The Company also currently has loans
outstanding to owners of 14 hotels with an aggregate of 3,337
rooms. These loans total $38.1 million. The company does not hold
an ownership interest in any of the hotels for which it has
provided financing. For more information about Winston Hotels, Inc.
visit the company's Web site at www.winstonhotels.com.
Grafico Azioni Winston (NYSE:WXH)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Winston (NYSE:WXH)
Storico
Da Lug 2023 a Lug 2024
Notizie in Tempo Reale relative a Winston Hotels (Borsa di New York (NYSE)): 0 articoli recenti
Più Winston Hotels, Inc. Articoli Notizie