DIAMONDROCK HOSPITALITY COMPANY DECLARES DIVIDENDS FOR FIRST QUARTER 2023

Rhea-AI Summary

DiamondRock Hospitality Company (NYSE: DRH) announced a quarterly cash dividend of $0.03 per common share, payable on April 12, 2023, to shareholders recorded as of March 31, 2023. Additionally, it declared a dividend of $0.515625 per share for its Series A Cumulative Redeemable Preferred Stock, due on March 31, 2023, to those recorded as of March 17, 2023. The company owns 35 hotels with around 9,600 rooms, focusing on leisure destinations and gateway markets.

Positive

• Declaration of a quarterly cash dividend of $0.03 per common share, affirming company’s commitment to return value to shareholders.
• Second dividend of $0.515625 per preferred share, indicating strong performance in preferred equity.

Negative

• None.

News Market Reaction

+0.92%

1 alert

+0.92% News Effect

On the day this news was published, DRH gained 0.92%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

BETHESDA, Md., March 2, 2023 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that its Board of Directors has declared a quarterly cash dividend of $0.03 per common share to be paid on April 12, 2023 to shareholders of record as of March 31, 2023.

The Company's Board of Directors also declared a quarterly cash dividend of $0.515625 per share on its Series A Cumulative Redeemable Preferred Stock, which will be paid on March 31, 2023 to shareholders of record as of March 17, 2023. 

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 35 premium quality hotels with approximately 9,600 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique 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.

View original content:https://www.prnewswire.com/news-releases/diamondrock-hospitality-company-declares-dividends-for-first-quarter-2023-301761326.html

SOURCE DiamondRock Hospitality Company

FAQ

What is the dividend amount for DiamondRock Hospitality Company in Q1 2023?

The dividend amount for DiamondRock Hospitality Company in Q1 2023 is $0.03 per common share.

When will DiamondRock Hospitality Company pay its dividend?

The dividend will be paid on April 12, 2023, for common shares.

What is the record date for the common stock dividend of DiamondRock Hospitality Company?

The record date for the common stock dividend is March 31, 2023.

What is the dividend payment date for the Series A Cumulative Redeemable Preferred Stock?

The dividend payment date for the Series A Cumulative Redeemable Preferred Stock is March 31, 2023.