Summit Hotel Properties Declares Fourth Quarter 2020 Preferred Dividends
Summit Hotel Properties has declared a cash dividend of $0.403125 per share for its 6.45% Series D Preferred Stock and $0.390625 per share for its 6.25% Series E Preferred Stock, covering the period ending February 28, 2021.
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Rhea-AI Summary
Summit Hotel Properties has declared a cash dividend of $0.403125 per share for its 6.45% Series D Preferred Stock and $0.390625 per share for its 6.25% Series E Preferred Stock, covering the period ending February 28, 2021. These dividends will be payable on February 26, 2021 to shareholders on record as of February 12, 2021. The company owns 72 hotels, primarily in the Upscale segment, with a total of 11,288 guestrooms across 23 states.
Positive
- Declared a cash dividend of $0.403125 for Series D and $0.390625 for Series E, providing returns to shareholders.
- Maintained a robust portfolio of 72 hotels with 11,288 guestrooms, indicating strong market presence.
Negative
- None.
Details
News Market Reaction – INN
The recorded move for INN in the trading session of this news was +5.80%.
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AUSTIN, Texas, Jan. 29, 2021 /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 of
The dividends are payable on February 26, 2021 to holders of record as of February 12, 2021.
About Summit Hotel Properties
Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of January 29, 2021, the Company's portfolio consisted of 72 hotels, 67 of which were wholly-owned, with a total of 11,288 guestrooms located in 23 states.
For additional information, please visit the Company's website, www.shpreit.com, and follow the Company on 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, 2019. 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.
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