RLJ Lodging Trust Announces Dividends for Third Quarter of 2022

Rhea-AI Summary

RLJ Lodging Trust (NYSE: RLJ) has declared a quarterly cash dividend of $0.05 per common share, payable on October 17, 2022, to shareholders of record as of September 30, 2022. Additionally, a quarterly cash dividend of $0.4875 on the Series A Preferred Shares will be paid on October 31, 2022, to shareholders of record as of September 30, 2022. This announcement reflects the company's commitment to providing returns to shareholders amid ongoing economic uncertainties and the impacts of the COVID-19 pandemic.

Positive

• Quarterly cash dividend of $0.05 per common share indicates financial stability.
• Dividends payable on October 17 demonstrate commitment to shareholder returns.

Negative

• Ongoing economic uncertainty may impact future dividend payments.
• Risks related to travel demand due to COVID-19 pandemic persist.

BETHESDA, Md.--(BUSINESS WIRE)-- RLJ Lodging Trust (the “Company”) (NYSE: RLJ) previously announced in its Q2 2022 Earnings Release that its Board of Trustees had declared a quarterly cash dividend of $0.05 per common share of beneficial interest. The dividend is payable on October 17, 2022, to shareholders of record as of September 30, 2022.

The Board of Trustees had also declared a quarterly cash dividend of $0.4875 on the Company’s Series A Preferred Shares. The dividend is payable on October 31, 2022, to shareholders of record as of September 30, 2022.

About Us
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels.

Forward Looking Statements
This information contains certain statements, other than purely historical information, including estimates, projections, statements relating to the Company’s business plans, objectives and expected operating results, measures being taken in response to the COVID-19 pandemic, and the impact of the COVID-19 pandemic on our business, and the assumptions upon which those statements are based, that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally are identified by the use of the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “plan,” “may,” “will,” “will continue,” “intend,” “should,” “may,” or similar expressions. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, beliefs and expectations, such forward-looking statements are not predictions of future events or guarantees of future performance and the Company’s actual results could differ materially from those set forth in the forward-looking statements. Some factors that might cause such a difference include the following: the current global economic uncertainty and a worsening of global economic conditions or low levels of economic growth; the duration and scope of the COVID-19 pandemic and its impact on the demand for travel and on levels of consumer confidence; actions governments, businesses and individuals take in response to the pandemic, the impact of the pandemic on global and regional economies, travel, and economic activity; public adoption rates of COVID-19 vaccines, including booster shots, and their effectiveness against emerging variants of COVID-19, such as the Delta and Omicron variants, and the pace of recovery when the COVID-19 pandemic subsides; increased direct and indirect competition, changes in government regulations or accounting rules; changes in local, national and global real estate conditions; declines in the lodging industry; seasonality of the lodging industry; risks related to natural disasters, such as earthquakes and hurricanes; hostilities, including international military conflicts, future terrorist attacks or fear of hostilities that affect travel, public health and/or economic activity and epidemics and/or pandemics, including COVID-19; the Company’s ability to obtain lines of credit or permanent financing on satisfactory terms; changes in interest rates; access to capital through offerings of the Company’s common and preferred shares of beneficial interest, or debt; the Company’s ability to identify suitable acquisitions; the Company’s ability to close on identified acquisitions and integrate those businesses; and inaccuracies of the Company’s accounting estimates. Moreover, investors are cautioned to interpret many of the risks identified under the section entitled "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2021, as being heightened as a result of the ongoing and numerous adverse impacts of the COVID-19 pandemic. Given these uncertainties, undue reliance should not be placed on such statements. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The Company cautions investors not to place undue reliance on these forward looking statements and urges investors to carefully review the disclosures the Company makes concerning risks and uncertainties in the sections entitled “Risk Factors,” “Forward- Looking Statements,” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report, as well as risks, uncertainties and other factors discussed in other documents filed by the Company with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220914005982/en/

Sean M. Mahoney, Executive Vice President and Chief Financial Officer – (301) 280-7774

For additional information or to receive press releases via email, please visit our website: http://www.rljlodgingtrust.com

Source: RLJ Lodging Trust

FAQ

What is the dividend amount declared by RLJ Lodging Trust?

The dividend amount declared is $0.05 per common share.

When will the RLJ Lodging Trust dividend be paid?

The dividend will be paid on October 17, 2022.

How does the COVID-19 pandemic impact RLJ Lodging Trust?

The COVID-19 pandemic poses risks to travel demand and economic conditions, affecting the company's performance.

What is the dividend frequency for RLJ Lodging Trust?

RLJ Lodging Trust typically pays quarterly dividends.