Friday, January 26, 2024
Summit Hotel Properties declares Q4 dividends on common and preferred stocks, with payments due on Feb 29, 2024, to record holders as of Feb 15.
Summit Hotel Properties, Inc. disclosed that its Board of Directors has approved, and the Company has subsequently announced, a quarterly cash dividend for the period ending December 31, 2023. This dividend is set at $0.06 for each share of the Company’s common stock and each common unit of limited partnership interest in Summit Hotel OP, LP, the Company’s operational partnership. The dividend for the fourth quarter translates to an annualized yield of 3.6 percent, considering the January 24, 2024 closing price of the Company’s common stock.
Furthermore, the Board of Directors has given the green light, and the Company has confirmed, a cash dividend of $0.390625 per share for the Company’s 6.25% Series E Cumulative Redeemable Preferred Stock, covering the dividend period up to February 29, 2024. In addition, a cash dividend of $0.3671875 per share has been declared for the Company’s 5.875% Series F Cumulative Redeemable Preferred Stock, also for the period concluding on February 29, 2024.
In a related move, the Board of Directors has sanctioned a cash distribution, with the Company declaring on behalf of the operating partnership, a distribution of $0.328125 per unit associated with the operating partnership’s 5.25% Series Z Cumulative Perpetual Preferred Units, applicable for the distribution period ending on February 29, 2024.
These dividends are scheduled for payment on February 29, 2024, to shareholders and unit holders recorded as of February 15, 2024.
Tags: Hotel, Summit Hotel
Sunday, April 28, 2024
Sunday, April 28, 2024
Sunday, April 28, 2024
