Summit Hotel Properties Announces Rewards for Shareholders
Summit Hotel Properties Declares Dividends for Shareholders
Summit Hotel Properties, Inc. (NYSE: INN), a key player in the hospitality industry, has recently made an important announcement regarding its financial returns to shareholders. This initiative reflects the company’s ongoing commitment to delivering value to its investors, emphasizing its growth and stability in the lodging sector.
First Quarter Dividends Declared
The Board of Directors at Summit Hotel Properties has formally approved a cash dividend for the first quarter of the year, amounting to $0.08 per share of common stock. This decision underscores the company’s robust operational performance, as the announced dividend is indicative of an annualized yield of 8.2%, based on the stock's closing price. This is a positive signal to current and prospective shareholders, marking the company’s dedication to consistent returns.
Preferred Stock Dividends
In addition to dividends on common stock, Summit Hotel Properties has announced cash dividends on its preferred stock as well. The 6.25% Series E Cumulative Redeemable Preferred Stock will see a dividend of $0.390625 per share, while the 5.875% Series F Cumulative Redeemable Preferred Stock will provide a cash dividend of $0.3671875 per share for the specified period. Such measures reinforce the company’s strategy to maintain a diverse portfolio of offerings to its shareholders.
Distributions for Unregistered Units
The company has also declared a cash distribution of $0.328125 per unit concerning its unregistered 5.25% Series Z Cumulative Perpetual Preferred Units. This distribution reflects the company's commitment to its investors and their confidence in the operational partnership model.
Payment Schedule
The dividends will be payable on May 30, 2025, to shareholders who are on record as of May 16, 2025. This structured approach to dividend payments showcases the company’s organized financial management and its commitment to transparency with shareholders.
About Summit Hotel Properties
Summit Hotel Properties, Inc. operates as a publicly-traded real estate investment trust, focusing on acquiring premium-branded lodging properties. The company aims to streamline operations and enhance profitability, particularly within the upscale hospitality segment. As of April 2025, the company has established a significant portfolio consisting of 97 assets located across 25 states, encompassing 14,555 guest rooms. This growth trajectory not only highlights the company’s expansion plans but also its strategic positioning in the competitive lodging market.
Follow the Company
For further insights and information on the company’s performance and offerings, shareholders are encouraged to visit Summit Hotel Properties’ website. Moreover, staying connected through social media platforms can provide real-time updates about the company's operations and strategic initiatives.
Frequently Asked Questions
What is the recent dividend announced by Summit Hotel Properties?
Summit Hotel Properties declared a cash dividend of $0.08 per share of common stock for the first quarter.
When will the dividends be paid?
The dividends are set to be paid on May 30, 2025, to those on record by May 16, 2025.
What are the dividends for preferred stockholders?
The company announced dividends of $0.390625 for the Series E preferred stock and $0.3671875 for the Series F preferred stock.
How many assets does Summit Hotel Properties currently own?
As of April 2025, the company owns a total of 97 assets across the United States.
Why is the dividend yield attractive for investors?
The annualized dividend yield of 8.2% based on the closing stock price reflects a strong financial position and commitment to shareholder returns.
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