DALLAS, July 11,
2024 /PRNewswire/ -- Braemar Hotels & Resorts
Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that
its Board of Directors (the "Board") declared a quarterly cash
dividend of $0.05 per diluted share
for the Company's common stock for the third quarter ending
September 30, 2024. This
dividend, which equates to an annual rate of $0.20 per share, is payable on October 15, 2024, to stockholders of record as of
September 30, 2024.
The Board declared a quarterly cash dividend for the third
quarter ending September 30, 2024, of
$0.3438 per diluted share, for the
Company's 5.5% Series B Cumulative Convertible Preferred Stock.
This dividend is payable on October 15,
2024, to stockholders of record as of September 30, 2024.
The Board declared a quarterly cash dividend for the third
quarter ending September 30, 2024, of
$0.5156 per diluted share, for the
Company's 8.25% Series D Cumulative Preferred Stock. This dividend
is payable on October 15, 2024, to
stockholders of record as of September 30,
2024.
The Board declared a monthly cash dividend for all CUSIPs of the
Company's Series E Redeemable Preferred Stock, payable as follows:
$0.15625 per share will be paid on
August 15, 2024, to stockholders of
record as of July 31, 2024;
$0.15625 per share will be paid on
September 16, 2024 to stockholders of
record as of August 30, 2024; and
$0.15625 per share will be paid on
October 15, 2024 to stockholders of
record as of September 30, 2024.
The Board declared a monthly cash dividend for CUSIP 10482B705
of the Company's Series M Redeemable Preferred Stock payable as
follows: $0.17708 per share will be
paid on August 15, 2024 to
stockholders of record as of July 31,
2024; $0.17708 per share will
be paid on September 16, 2024 to
stockholders of record as of August 30,
2024; and $0.17708 per share
will be paid on October 15, 2024 to
stockholders of record as of September 30,
2024.
The Board declared a monthly cash dividend for CUSIPs 10482B887,
10482B796, 10482B861 and 10482B770 of the Company's Series M
Redeemable Preferred Stock payable as follows: $0.17500 per share will be paid on August 15, 2024 to stockholders of record as of
July 31, 2024; $0.17500 per share will be paid on September 16, 2024 to stockholders of record as
of August 30, 2024; and $0.17500 per share will be paid on October 15, 2024 to stockholders of record as of
September 30, 2024.
The Board declared a monthly cash dividend for all remaining
CUSIPs of the Company's Series M Redeemable Preferred Stock payable
as follows: $0.17292 per share will
be paid on August 15, 2024 to
stockholders of record as of July 31,
2024; $0.17292 per share will
be paid on September 16, 2024 to
stockholders of record as of August 30,
2024; and $0.17292 per share
will be paid on October 15, 2024 to
stockholders of record as of September 30,
2024.
As of June 30, 2024, there were
16,142,350 shares of the Company's Series E Redeemable Preferred
Stock and 1,622,772 shares of the Company's Series M Redeemable
Preferred Stock issued and outstanding.
Braemar Hotels & Resorts is a real estate investment trust
(REIT) focused on investing in luxury hotels and resorts.
Forward-Looking Statements
Certain statements and assumptions in this press release
contain or are based upon "forward-looking" information and are
being made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements in this press release include, among others, statements
about the Company's strategy and future plans. These
forward-looking statements are subject to risks and uncertainties.
When we use the words "will likely result," "may," "anticipate,"
"estimate," "should," "expect," "believe," "intend," or similar
expressions, we intend to identify forward-looking statements. Such
statements are subject to numerous assumptions and uncertainties,
many of which are outside Braemar's control.
These forward-looking statements are subject to known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those anticipated, including, without
limitation: our ability to repay, refinance or restructure our debt
and the debt of certain of our subsidiaries; anticipated or
expected purchases or sales of assets; our projected operating
results; completion of any pending transactions; risks associated
with our ability to effectuate our dividend policy, including
factors such as operating results and the economic outlook
influencing our board's decision whether to pay further dividends
at levels previously disclosed or to use available cash to pay
dividends; our understanding of our competition; market trends;
projected capital expenditures; the impact of technology on our
operations and business; general volatility of the capital markets
and the market price of our common stock and preferred stock;
availability, terms and deployment of capital; availability of
qualified personnel; changes in our industry and the markets in
which we operate, interest rates or the general economy; and the
degree and nature of our competition. These and other risk factors
are more fully discussed in Braemar's filings with the Securities
and Exchange Commission.
The forward-looking statements included in this press release
are only made as of the date of this press release. Such
forward-looking statements are based on our beliefs, assumptions,
and expectations of our future performance taking into account all
information currently known to us. These beliefs, assumptions, and
expectations can change as a result of many potential events or
factors, not all of which are known to us. If a change occurs, our
business, financial condition, liquidity, results of operations,
plans, and other objectives may vary materially from those
expressed in our forward-looking statements. You should carefully
consider this risk when you make an investment decision concerning
our securities. Investors should not place undue reliance on these
forward-looking statements. The Company can give no assurance that
these forward-looking statements will be attained or that any
deviation will not occur. We are not obligated to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or circumstances, changes in
expectations, or otherwise, except to the extent required by
law.
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SOURCE Braemar Hotels & Resorts, Inc.
