IHT Declares 50th Consecutive Annual Dividend; Clean Energy Investment Progresses

Rhea-AI Summary

On January 5, 2021, InnSuites Hospitality Trust (NYSE American: IHT) announced a semi-annual dividend of $0.01 per share, payable on January 29, 2021, to shareholders recorded as of January 15, 2021. This marks the continuation of a 50-year history of uninterrupted dividends. In 2019, IHT invested $1 million in Unigen Power Inc, which is reportedly on track with its development and budget. The press release includes forward-looking statements about potential future operations and strategies, highlighting uncertainty in the hospitality market due to various risks.

Positive

• Announced a semi-annual dividend of $0.01 per share, continuing a 50-year history of annual dividends.
• Invested $1 million in Unigen Power Inc, which is progressing on budget and on time.

Negative

• Risks associated with strategic reviews and operational changes could impact future performance.
• Potential challenges in the hospitality industry, including occupancy rates and rental changes, may affect financial stability.

Phoenix, AZ, Jan. 05, 2021 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE American: IHT) 

On January 5, 2021, the Board of Trustees of IHT announced a semi-annual dividend of $0.01 per share payable on January 29, 2021 to shareholders of record as of January 15, 2021, continuing an uninterrupted 50-year history of annual dividends. In 2019 Innsuites Hospitality Trust (IHT) made a $1 million diversification investment in Unigen Power Inc (UPI). This high profit potential business reports that it is generally progressing with development of its new technology on budget and on time.

Forward-Looking Statements

With the exception of historical information, the matters discussed in this news release may include “forward-looking statements” within the meaning of the federal securities laws. All statements regarding the Trust’s review and exploration of potential strategic, operational and structural alternatives and expected associated costs and benefits are forward-looking. Actual developments and business decisions may differ materially from those expressed or implied by such forward-looking statements. Important factors, among others, that could cause the Trust’s actual results and future actions to differ materially from those described in forward-looking statements include the uncertain outcome, impact, effects and results of the Trust’s review of strategic, operational and structural alternatives, and the risks discussed in the Trust’s SEC filings. Forward-looking statements are not guarantees of future performance due to numerous risks and uncertainties such as local, national or international economic and business conditions, including, without limitation, conditions that may, or may continue to, affect public securities markets generally, the hospitality industry or the markets in which we operate or will operate; fluctuations in hotel occupancy rates; changes in room rental rates that may be charged by InnSuites Hotels in response to market rental rate changes or otherwise; seasonality of our business; our ability to sell any of our Hotels at market value, listed sale price or at all; interest rate fluctuations; changes in, or reinterpretations of governmental regulations; competition; availability of credit or other financing; our ability to meet, refinance or extend present and future debt service obligations; insufficient resources to pursue our current strategy; concentration of our investments in the InnSuites Hotels^® brand; loss of membership contracts; the financial condition of franchises, brand membership companies and travel related companies; our ability to carry out our strategy, including our strategy regarding Covid virus; the Trust’s ability to remain listed on the NYSE American; the need to periodically repair and renovate our Hotels at a cost at or in excess of our standard 4% reserve; increases in the cost of labor, energy, healthcare, insurance and other operating expenses as a result of changed or increased regulation or otherwise; terrorist attacks or other acts of war; outbreaks of communicable diseases attributed to our hotels or impacting the hotel industry in general; natural disasters, including adverse climate changes in the areas where we have or serve hotels; airline strikes; transportation and fuel price increases; adequacy of insurance coverage; data breaches or cybersecurity attacks; and other factors. Such uncertainties are described in greater detail in our filings with the Securities and Exchange Commission. Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained. The Trust expressly disclaims any obligation to update any forward-looking statement contained in this news release to reflect events or circumstances that may arise after the date hereof, all of which are expressly qualified by the foregoing, other than as required by applicable law.

FOR FURTHER INFORMATION:
Marc Berg, Executive Vice President
602-944-1500
email: mberg@innsuites.com

FAQ

What is the dividend amount for IHT in 2021?

The dividend amount for IHT in 2021 is $0.01 per share.

When is the IHT dividend payment date?

The IHT dividend payment date is January 29, 2021.

What is the record date for IHT's dividend?

The record date for IHT's dividend is January 15, 2021.

How long has IHT been paying dividends?

IHT has been paying dividends for 50 years.

What investment did IHT make recently?

IHT made a $1 million investment in Unigen Power Inc in 2019.