RLJ Lodging Trust Announces Dividends for Third Quarter of 2021

Rhea-AI Summary

RLJ Lodging Trust (NYSE: RLJ) has declared a quarterly cash dividend of $0.01 per common share, payable on October 15, 2021, to shareholders of record by September 30, 2021. Additionally, a quarterly cash dividend of $0.4875 on Series A Preferred Shares will be paid on October 29, 2021. The company operates 97 hotels with approximately 22,100 rooms in the United States and the District of Columbia, indicating a diversified portfolio in the lodging sector.

Positive

• Quarterly cash dividend of $0.01 per common share enhances shareholder income.
• Dividend on Series A Preferred Shares indicates ongoing financial commitment.

Negative

• None.

BETHESDA, Md.--(BUSINESS WIRE)-- RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced that its Board of Trustees has declared a quarterly cash dividend of $0.01 per common share of beneficial interest. The dividend is payable on October 15, 2021 to shareholders of record as of September 30, 2021.

The Board of Trustees also declared a quarterly cash dividend of $0.4875 on the Company’s Series A Preferred Shares. The dividend is payable on October 29, 2021 to shareholders of record as of September 30, 2021.

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. The Company's portfolio currently consists of 97 hotels with approximately 22,100 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.

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,” 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, including limiting or banning travel; the impact of the pandemic on global and regional economies, travel, and economic activity; the speed and effectiveness of vaccine and treatment developments and their deployment, including public adoption rates of COVID-19 vaccines and their effectiveness against emerging variants of COVID-19, such as the Delta variant; the pace of recovery when the COVID-19 pandemic subsides; the effects of steps we and our third party management partners take to reduce operating costs; increased direct competition, changes in government regulations or accounting rules; changes in local, national and global real estate conditions; declines in the lodging industry, including as a result of the COVID-19 pandemic; seasonality of the lodging industry; risks related to natural disasters, such as earthquakes and hurricanes; hostilities, including future terrorist attacks or fear of hostilities that affect travel 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 Annual Report on Form 10-K for the year ended December 31, 2020 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 on Form 10-K for the year ended December 31, 2020 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, as well as risks, uncertainties and other factors discussed in other documents filed by the Company with the Securities and Exchange Commission.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210915005389/en/

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

Source: RLJ Lodging Trust

FAQ

What is the dividend amount declared by RLJ Lodging Trust?

RLJ Lodging Trust declared a quarterly cash dividend of $0.01 per common share.

When is the dividend payable for RLJ Lodging Trust?

The dividend is payable on October 15, 2021, to shareholders of record by September 30, 2021.

What is the dividend for Series A Preferred Shares of RLJ?

The quarterly cash dividend on Series A Preferred Shares is $0.4875.

How many hotels does RLJ Lodging Trust operate?

RLJ Lodging Trust operates 97 hotels with approximately 22,100 rooms.