Service Properties Trust Announces Quarterly Dividend on Common Shares

Rhea-AI Summary

Service Properties Trust (Nasdaq: SVC) announced a quarterly cash distribution of $0.01 per common share, amounting to $0.04 annually. This payment will benefit SVC’s shareholders of record as of July 26, 2021, with distributions made on or about August 19, 2021. The company, a real estate investment trust, manages a diverse portfolio of hotels and retail properties across the U.S., Puerto Rico, and Canada. However, future dividends are subject to changes based on various factors determined by SVC’s Board of Trustees.

Positive

• Quarterly cash distribution of $0.01 per common share ($0.04 annually) enhances shareholder income.

Negative

• Future dividend rates are uncertain and may be increased or decreased based on numerous factors.

Service Properties Trust (Nasdaq: SVC) today announced a regular quarterly cash distribution on its common shares of $0.01 per common share ($0.04 per share per year). This distribution will be paid to SVC’s common shareholders of record as of the close of business on July 26, 2021 and distributed on or about August 19, 2021.

Service Properties Trust is a real estate investment trust which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada. SVC is managed by the majority owned operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

WARNING REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon SVC’s present beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond SVC’s control. For example, this press release states that SVC’s dividend rate will be $0.01/share per quarter or $0.04/share per year. A possible implication of this statement is that SVC will continuously pay quarterly dividends of $0.01/share per quarter or $0.04/share per year in the future. SVC’s dividend rates are set and reset from time to time by SVC’s Board of Trustees. The SVC Board considers many factors when setting dividend rates including SVC’s historical and projected income, normalized funds from operations, cash available for distribution, the then current and expected needs and availability of cash to pay SVC’s obligations and fund SVC’s investments, distributions which may be required to be paid to maintain SVC’s tax status as a real estate investment trust and other factors deemed relevant by SVC’s Board of Trustees in its discretion. Accordingly, future dividend rates may be increased or decreased and there is no assurance as to the rate at which future dividends will be paid. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.

No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210715005073/en/

FAQ

What is the current dividend for Service Properties Trust (SVC)?

Service Properties Trust (SVC) has declared a quarterly cash distribution of $0.01 per common share, totaling $0.04 per year.

When will the dividend for SVC be paid?

The dividend will be paid on or about August 19, 2021, to shareholders of record as of July 26, 2021.

Can the dividend amount for SVC change in the future?

Yes, the Board of Trustees may increase or decrease future dividend rates based on several factors.

What factors affect the dividend decisions for SVC?

SVC's Board considers historical and projected income, cash available, and needs for cash when deciding on dividends.