DIAMONDROCK HOSPITALITY DECLARES DIVIDEND OF $0.03 PER SHARE

Rhea-AI Summary

DiamondRock Hospitality Company (NYSE: DRH) announced a quarterly dividend of $0.515625 per share on its 8.250% Series A Cumulative Redeemable Preferred Stock, payable on September 30, 2022. The record date for shareholders is September 16, 2022. Additionally, a cash dividend of $0.03 per common share has been declared, payable on October 12, 2022, with a record date of September 30, 2022. The company operates 34 hotels with over 9,500 rooms, focusing on leisure destinations and key markets.

Positive

• Quarterly preferred stock dividend of $0.515625 enhances shareholder income.
• Regular cash dividend of $0.03 per common share reflects company confidence.

Negative

• None.

BETHESDA, Md., Sept. 1, 2022 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that its Board of Directors has declared a quarterly dividend of $0. 515625 per share on its 8.250% Series A Cumulative Redeemable Preferred Stock. The dividend is payable on September 30, 2022 to shareholders of record as of September 16, 2022. 

As previously announced in the Company's second quarter 2022 earnings release, the Company's Board of Directors declared a quarterly cash dividend of $0.03 per common share. The dividend is payable on October 12, 2022 to shareholders of record as of September 30, 2022. 

About the Company

DiamondRock 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 34 premium quality hotels with over 9,500 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique 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.

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SOURCE DiamondRock Hospitality Company

FAQ

What is the dividend amount declared by DRH for preferred stock in September 2022?

DiamondRock Hospitality declared a preferred stock dividend of $0.515625 per share.

When is the dividend for common shares payable to DRH shareholders?

The dividend for common shares is payable on October 12, 2022.

What is the record date for the common share dividend of DRH?

The record date for the common share dividend is September 30, 2022.

How many hotels does DiamondRock Hospitality own?

DiamondRock Hospitality owns 34 hotels with over 9,500 rooms.