Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 154

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 5
Chunk 154
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 risk factors that could materially and adversely affect our ability to make distributions. See “Risk Factors-Risks Related to Our Status as a REIT.” We expect that, at least initially, our distributions may exceed our net income under GAAP because of non-cash expenses included in net income. To the extent that our cash available for distribution is less than 90% of our REIT taxable income, we may consider various means to cover any such shortfall, including borrowing under new loans, selling certain of our assets or using a portion of the net proceeds we receive from future offerings of equity, equity-related or debt securities or declaring taxable stock dividends. In addition, our charter allows us to issue preferred stock that could have a preference on distributions, and, if we elect such issuance, the distribution preference on the preferred stock could limit our ability to make distributions to the holders of our common stock. We cannot assure our stockholders that our distribution policy will not change in the future.

Characterization of Distributions

For income tax purposes, distributions paid consist of ordinary income, capital gains, return of capital or a combination thereof. Distributions paid per share were characterized as follows:

202420232022Amount%Amount%Amount%Common Stock (cash):Ordinary taxable dividend$— — %$— — %$0.0300000 100.00000 %Unrecaptured 1250 gain— — %— — %— — %Capital gain distribution— — %— — %— — %Return of capital0.2000000 100.00000 %0.2000000 100.00000 %— — %Total$0.2000000 (1)100.00000 %$0.2000000 (1)100.00000 %$0.0300000 (1)100.00000 %Preferred Stock – Series B:Ordinary taxable dividend$— — %$0.1781351 12.95340 %$1.3752000 100.00000 %Unrecaptured 1250 gain— — %— — %— — %Capital gain distribution1.0383956 75.50870 %— — %— — %Return of capital0.3368044 24.49130 %1.1970649 87.046