GERMANTOWN, Tenn.--(BUSINESS WIRE)--Jan. 23, 2001--Equity Inns, Inc. (NYSE:ENN), a hotel real estate investment trust (REIT), today announced that the characterization of its 2000 dividends for income tax reporting purposes are as follows:
Common Stock
------------
2000 Taxable 2000
Dividend Date of Record Date of Ordinary Return of
Per Share Declaration Date Payment Dividends Capital
--------- ----------- -------- ------- --------- -----------
$ .31 3/9/00 3/31/00 5/1/00 $0.141 $0.169
$ .25 6/21/00 6/30/00 8/1/00 $0.114 $0.136
$ .25 9/8/00 9/30/00 11/1/00 $0.114 $0.136
$ .25 12/7/00 12/29/00 1/31/01 $0.114 $0.136
------ ------ ------
Totals $1.06 $0.483 $0.577
===== ====== ======
45.5% 54.5%
==== ====
Preferred Stock - Series A
--------------------------
2000 Taxable
Dividend Date of Record Date of Ordinary
Per Share Declaration Date Payment Dividends
--------- ----------- -------- ------- ---------
$.59375 3/9/00 3/31/00 4/28/00 $0.59375
$.59375 6/21/00 6/30/00 7/31/00 $0.59375
$.59375 9/8/00 9/30/00 10/31/00 $0.59375
$.59375 12/7/00 12/29/00 1/31/01 $0.59375
------- --------
Totals $ 2.375 $ 2.375
======= =========
100%
====
Per a special provision on the Internal Revenue Code, the fourth quarter dividend declared in December and paid in January 2001 is deemed to have been paid by Equity Inns and received by the shareholders on December 31, 2000. Therefore, this dividend will be included on Form 1099-DIV for 2000.
Equity Inns, Inc. is a self-advised REIT that focuses on the upscale extended stay, all-suite and midscale limited-service segments of the hotel industry. The company owns 96 hotels with over 12,300 rooms located in 34 states. For more information about Equity Inns, visit the Company's web site: www.equityinns.com.
CONTACT: Equity Inns
Howard Silver, 901/754-7774
or
Daly Gray (Media)
Jerry Daly or Carol McCune, 703/435-6293
or
Financial Relations Board (Analyst Info)
Claire Koeneman, 312/640-6784
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