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Park Hotels & Resorts Announces Tax Treatment of 2020 Dividends

·1 min read

TYSONS, Va., Jan. 15, 2021 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (the “Company”) today announced the tax reporting information for its 2020 cash distributions on its Common Stock.

The distributions, totaling $0.45 per share, were paid on April 15, 2020. Due to the financial impacts from the COVID-19 pandemic, Park suspended distributions on its Common Stock for the remainder of the year.

For income tax purposes, the dividends for 2020, totaling $0.45 per share, are classified as $0.244571 (54.349187%) Total ordinary dividends, $0.005000 (1.111105%) Qualified dividends, and $0.205429 (45.650813%) Total capital gain distribution. The Total ordinary dividends include Section 199A dividends of $0.239571 (53.238082%).

The following table summarizes the income tax treatment of the Company's 2020 dividend:

2020 Dividend Tax Reporting Information (Form 1099-DIV)

Park Hotels & Resorts Inc. Common Stock: PK CUSIP: 700517 105

Record Date

Payable Date

Dividend per Share

Total ordinary dividends
(box 1a)

Qualified dividends
(box 1b)

Total capital gain distr.
(box 2a)

Section 199A dividends
(box 5)

March 31, 2020

April 15, 2020

$0.45

$0.244571

$0.005000

$0.205429

$0.239571

About Park Hotels & Resorts
Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations. Visit www.pkhotelsandresorts.com for more information.

For more information, contact:
Ian Weissman
Senior Vice President, Corporate Strategy
571-302-5591
iweissman@pkhotelsandresorts.com