Summit Hotel Properties (NYSE:INN) (“the Company”) announced today that
its Board of Directors has authorized, and the Company declared, a cash
dividend for the first quarter ended March 31, 2015 of $0.1175 per share
of common stock of the Company and per common unit of limited
partnership interest in Summit Hotel OP, LP, the Company’s operating
partnership.
The Board of Directors also authorized, and the Company has declared, a
cash dividend of $0.578125 per share of the Company’s 9.25 percent
Series A Cumulative Redeemable Preferred Stock for the dividend period
ending on May 29, 2015; a cash dividend of $0.4921875 per share of the
Company’s 7.875 percent Series B Cumulative Redeemable Preferred Stock
for the dividend period ending on May 29, 2015; and a cash dividend of
$0.4453125 per share of the Company’s 7.125 percent Series C Cumulative
Redeemable Preferred Stock for the dividend period ending on May 29,
2015.
The dividends are payable May 29, 2015 to holders of record as of May
15, 2015.
About Summit Hotel Properties
Summit Hotel Properties, Inc. is a publicly-traded real estate
investment trust focused primarily on acquiring and owning
premium-branded, select-service hotels in the Upscale and Upper-midscale
segments of the lodging industry. As of April 30, 2015, the Company’s
portfolio consisted of 91 hotels with a total of 11,679 guestrooms
located in 21 states.
For additional information, please visit the Company’s website, www.shpreit.com
and follow the Company on Twitter at @SummitHotel_INN.
Forward-Looking Statements
This press release contains statements that are “forward-looking
statements” within the meaning 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 safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are
generally identifiable by use of forward-looking terminology such as
“may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,”
“anticipate,” “estimate,” “approximately,” “believe,” “could,”
“project,” “predict,” “forecast,” “continue,” “plan,” “likely,” “would”
or other similar words or expressions. These forward-looking statements
relate to the payment of dividends. Forward-looking statements are based
on certain assumptions and can include future expectations, future plans
and strategies, financial and operating projections or other
forward-looking information. These forward-looking statements are
subject to various risks and uncertainties, not all of which are known
to the Company and many of which are beyond the Company’s control, which
could cause actual results to differ materially from such statements.
These risks and uncertainties include, but are not limited to, the state
of the U.S. economy, supply and demand in the hotel industry and other
factors as are described in greater detail in the Company’s filings with
the Securities and Exchange Commission (“SEC”), including, without
limitation, the Company’s Annual Report on Form 10-K for the year ended
December 31, 2014. Unless legally required, the Company disclaims any
obligation to update any forward-looking statements, whether as a result
of new information, future events or otherwise.
Copyright Business Wire 2015