AUSTIN, Texas, Oct. 28, 2022 /PRNewswire/ — Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”), introduced at present that its Board of Directors has licensed, and the Company has declared, a money dividend for the third quarter ended September 30, 2022, of $0.04 per share of widespread inventory of the Company and per widespread unit of restricted partnership curiosity in Summit Hotel OP, LP, the Company’s working partnership.
The Board of Directors has additionally licensed, and the Company has declared, a money dividend of $0.390625 per share of the Company’s 6.25% Series E Cumulative Redeemable Preferred Stock for the dividend interval ending on November 30, 2022, and a money dividend of $0.3671875 per share of the Company’s 5.875% Series F Cumulative Redeemable Preferred Stock for the dividend interval ending on November 30, 2022.
Additionally, the Board of Directors has licensed a money distribution, and the Company has declared on behalf of the working partnership, distributions of $0.328125 per unit pertaining to the working partnership’s unregistered 5.25% Series Z Cumulative Perpetual Preferred Units.
The dividends are payable on November 30, 2022 to holders of file as of November 16, 2022.
About Summit Hotel Properties
Summit Hotel Properties, Inc. is a publicly-traded actual property funding belief centered on proudly owning premium-branded resorts with environment friendly working fashions primarily within the Upscale section of the lodging trade. As of September 30, 2022, the Company’s portfolio consisted of 102 resorts, 61 of that are wholly owned, with a complete of 15,323 guestrooms positioned in 24 states.
For further info, please go to the Company’s web site, www.shpreit.com, and comply with the Company on Twitter at @SummitHotel_INN.
Forward Looking Statements
This press launch incorporates statements which can be “forward-looking statements” inside the that means 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 protected harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identifiable by use of forward-looking terminology reminiscent of “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “plan,” “likely,” “would” or different related phrases or expressions. These forward-looking statements relate to the fee of dividends. Forward-looking statements are based mostly on sure assumptions and might embrace future expectations, future plans and methods, monetary and working projections or different forward-looking info. These forward-looking statements are topic to numerous dangers and uncertainties, not all of that are identified to the Company and lots of of that are past the Company’s management, which may trigger precise outcomes to vary materially from such statements. These dangers and uncertainties embrace, however usually are not restricted to, the state of the U.S. economy, provide and demand within the resort trade and different elements as are described in larger element within the Company’s filings with the Securities and Exchange Commission, together with, with out limitation, the Company’s Annual Report on Form 10-Okay for the yr ended December 31, 2021. Unless legally required, the Company disclaims any obligation to replace any forward-looking statements, whether or not because of new info, future occasions or in any other case.
SOURCE Summit Hotel Properties, Inc.
