Business
DIAMONDROCK HOSPITALITY DECLARES FOURTH QUARTER DIVIDENDS
Common Dividends for 2024 Total $0.32 Per Share BETHESDA, Md., Dec. 9, 2024 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH)
About this update from Diamondrock Hospitality Company
[{"type":"text","content":"Common Dividends for 2024 Total $0.32 Per Share\nBETHESDA, Md., Dec. 9, 2024 /PRNewswire/ -- DiamondRock Hospitality Company (the \"Company\") (NYSE: DRH) announced that its Board of Directors has declared a fourth quarter dividend of $0.23 per common share, which includes the Company's regular quarterly dividend of $0.03 per common share, along with a stub dividend of $0.20 per common share. The dividend will be paid on January 14, 2025 to shareholders of record as of December 31, 2024.\n\nThe fourth quarter dividend, together with the regular dividends declared for the first three quarters of 2024, total $0.32 per share and represent an annual yield of 3.3% based on the closing stock price on December 6, 2024. The Company expects to declare regular quarterly dividends of $0.08 per common share in 2025 and, depending on its 2025 operating income, a stub dividend in the fourth quarter of 2025.\nThe Company's Board of Directors also declared a quarterly dividend of $0.515625 per share on its 8.250% Series A Cumulative Redeemable Preferred Stock. The dividend is payable on December 31, 2024 to shareholders of record as of December 20, 2024. \nAbout the Company\nDiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 37 premium quality hotels and resorts with over 10,000 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment. For further information on the Company and its portfolio, please visit DiamondRock Hospitality Company's website at www.drhc.com.\nThis press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as \"believe,\" \"expect,\" \"intend,\" \"project,\" \"forecast,\" \"plan\" and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ ma...