Business
DIAMONDROCK HOSPITALITY ANNOUNCES REDEMPTION OF 8.250% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK
DiamondRock Hospitality Company (the "Company") today announced it will redeem all 4,760,000 outstanding shares of its 8.250% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock") on December 31, 2025 ("Redemption Date"). The Company intends to utilize approximately $121.5 million cash on hand to fund the redemption price of $25.00 per share, plus accrued and unpaid dividends up to, but not including the Redemption Date.
About this update from Diamondrock Hospitality Company
[{"type":"text","content":"BETHESDA, Md., Nov. 20, 2025 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") today announced it will redeem all 4,760,000 outstanding shares of its 8.250% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock") on December 31, 2025 ("Redemption Date"). The Company intends to utilize approximately $121.5 million cash on hand to fund the redemption price of $25.00 per share, plus accrued and unpaid dividends up to, but not including the Redemption Date.","length":526,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/DiamondRock Hospitality Company)","displaySize":"","headline":null,"caption":"(PRNewsfoto/DiamondRock Hospitality Company)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":215,"url":"https://media.zenfs.com/en/prnewswire.com/565a6735581b743e28172adc1e0ebba4"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/6UEVB3H16CjgEnygW.bYqA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM3OTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/565a6735581b743e28172adc1e0ebba4","width":400,"height":215}},"href":"https://mma.prnewswire.com/media/779900/DiamondRock_Hospitality_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"On November 19, 2025, the Company's Board of Directors declared a quarterly dividend of $0.515625 per share on its Series A Preferred Stock. The dividend is payable on December 31, 2025, to shareholders of record as of December 19, 2025.","length":241,"tagName":"p"},{"type":"text","content":"Beginning on the Redemption Date, the Series A Preferred Stock will no longer be outstanding, and dividends will no longer accrue on such securities. Broadridge Corporate Issuer Solutions, LLC ("Broadridge") is the Company's redemption agent. Broadridge's address is Broadridge Corporate Issuer Solutions, LLC, 51 Mercedes Way, Edgewood, NY 11717. Questions relating to the Notice of Redemption and related materials should be directed to Broadridge at 1 (877) 830-4932.","length":488,"tagName":"p"},{"type":"text","content":"About the Company","length":17,"tagName":"p"},{"type":"text","content":"DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust (REIT) that owns a leading portfolio of geographically diversified hotels concentrated in leisure desti...