DALLAS, Jan. 10, 2022 /PRNewswire/ -- Braemar Hotels
& Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company")
announced today that its Board of Directors declared a quarterly
cash dividend for the first quarter ending March 31, 2022, of $0.3438 per diluted share, for the Company's 5.5%
Series B Cumulative Convertible Preferred Stock. This dividend is
payable on April 15, 2022, to
stockholders of record as of March 31,
2022.
The Board declared a quarterly cash dividend for the first
quarter ending March 31, 2022, of
$0.5156 per diluted share, for the
Company's 8.25% Series D Cumulative Preferred Stock. This dividend
is payable on April 15, 2022, to
stockholders of record as of March 31,
2022.
The Board declared a monthly cash dividend for the Company's
Series E Redeemable Preferred Stock equal to a quarterly rate of
$0.50 per share, payable as follows:
$0.1666 per share will be paid on
February 15, 2022 to stockholders of
record as of January 31, 2022;
$0.1666 per share will be paid on
March 15, 2022 to stockholders of
record as of February 28, 2022; and
$0.1666 per share will be paid on
April 15, 2022 to stockholders of
record as of March 31, 2022.
The Board declared a monthly cash dividend for the Company's
Series M Redeemable Preferred Stock equal to a quarterly rate of
$0.5125 per share, payable as
follows: $0.1708 per share will be
paid on February 15, 2022 to
stockholders of record as of January 31,
2022; $0.1708 per share will
be paid on March 15, 2022 to
stockholders of record as of February 28,
2022; and $0.1708 per share
will be paid on April 15, 2022 to
stockholders of record as of March 31,
2022.
As of December 31, 2021, there
were 1,708,883 shares of the Company's Series E Redeemable
Preferred Stock and 29,044 shares of the Company's Series M
Redeemable Preferred Stock issued and outstanding.
The Board also announced that it plans to continue its
suspension of the common stock dividend into 2022 to protect
liquidity and will evaluate future dividend declarations on a
quarterly basis going forward.
Braemar Hotels & Resorts is a real estate investment trust
(REIT) focused on investing in luxury hotels and resorts.
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: the impact of COVID-19, and the rate of adoption and
efficacy of vaccines to prevent COVID-19, on our business and
investment strategy; the timing and outcome of the Securities and
Exchange Commission's investigation; 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; 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.