SUMMIT HOTEL PROPERTIES DECLARES FIRST QUARTER 2025 DIVIDENDS

Rhea-AI Summary

Summit Hotel Properties (NYSE: INN) has declared its first quarter 2025 dividends. The company announced a cash dividend of $0.08 per share of common stock and per common unit of partnership interest, representing an annualized dividend yield of 8.2% based on April 23, 2025 closing price.

The company also declared preferred stock dividends:

• $0.390625 per share for 6.25% Series E Cumulative Redeemable Preferred Stock
• $0.3671875 per share for 5.875% Series F Cumulative Redeemable Preferred Stock
• $0.328125 per unit for 5.25% Series Z Cumulative Perpetual Preferred Units

All dividends are payable on May 30, 2025, to holders of record as of May 16, 2025.

Positive

• 8.2% annualized dividend yield indicates strong shareholder returns
• Consistent dividend payments across common and preferred shares demonstrate financial stability

Negative

• None.

AUSTIN, Texas, April 24, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), announced today that its Board of Directors has authorized, and the Company has declared, a cash dividend for the first quarter ended March 31, 2025, of $0.08 per share of common stock of the Company and per common unit of limited partnership interest in Summit Hotel OP, LP, the Company's operating partnership. The Company's first quarter common dividend represents an annualized dividend yield of 8.2 percent based on the closing price of shares of the common stock on April 23, 2025.

The Board of Directors has also authorized, and the Company has declared, a cash dividend of $0.390625 per share of the Company's 6.25% Series E Cumulative Redeemable Preferred Stock for the dividend period ending on May 31, 2025, and a cash dividend of $0.3671875 per share of the Company's 5.875% Series F Cumulative Redeemable Preferred Stock for the dividend period ending on May 31, 2025.

Additionally, the Board of Directors has authorized a cash distribution, and the Company has declared on behalf of the operating partnership, distributions of $0.328125 per unit pertaining to the operating partnership's unregistered 5.25% Series Z Cumulative Perpetual Preferred Units for the distribution period ending on May 31, 2025.

The dividends are payable on May 30, 2025, to holders of record as of May 16, 2025.

About Summit Hotel Properties

Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused on owning premium-branded lodging properties with efficient operating models primarily in the Upscale segment of the lodging industry. As of April 24, 2025, the Company's portfolio consisted of 97 assets, 53 of which are wholly owned, with a total of 14,555 guestrooms located in 25 states.

For additional information, please visit the Company's website, www.shpreit.com, and follow the Company on X, formerly Twitter, at @SummitHotel_INN.

Forward Looking Statements

This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "seek," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," "forecast," "continue," "plan," "likely," "would" or other similar words or expressions. These forward-looking statements relate to the payment of dividends. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. These forward-looking statements are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company's control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, supply and demand in the hotel industry and other factors as are described in greater detail in the Company's filings with the Securities and Exchange Commission, including, without limitation, the Company's Annual Report on Form 10-K for the year ended December 31, 2024. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Summit Hotel Properties, Inc.

FAQ

What is Summit Hotel Properties' dividend yield for Q1 2025?

Summit Hotel Properties' Q1 2025 dividend represents an annualized yield of 8.2% based on the April 23, 2025 closing price.

When will Summit Hotel Properties (INN) pay its Q1 2025 dividend?

Summit Hotel Properties will pay its Q1 2025 dividend on May 30, 2025, to shareholders of record as of May 16, 2025.

How much is Summit Hotel Properties' common stock dividend for Q1 2025?

Summit Hotel Properties declared a cash dividend of $0.08 per share of common stock for Q1 2025.

What are the preferred stock dividend rates for Summit Hotel Properties in Q1 2025?

Series E preferred stock: $0.390625 per share (6.25%), Series F preferred stock: $0.3671875 per share (5.875%), and Series Z preferred units: $0.328125 per unit (5.25%).