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. Shareholders on record by January 24, 2022 will receive this payment on or about February 17, 2022. SVC manages over $12 billion in assets, including more than 300 hotels and nearly 800 retail properties across the U.S., Puerto Rico, and Canada. As a REIT, SVC's dividends may fluctuate based on various financial factors assessed by the Board of Trustees.

Positive

• Quarterly cash distribution of $0.01 per common share.
• Stable annual dividend rate of $0.04 per share.
• Managed over $12 billion in hotel and retail assets.

Negative

• Future dividend rates are subject to change and not guaranteed.

NEWTON, Mass.--(BUSINESS WIRE)-- 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 January 24, 2022, and distributed on or about February 17, 2022.

Service Properties Trust (Nasdaq: SVC) is a real estate investment trust, or REIT, with more than $12 billion invested in two asset categories: hotels and service-focused retail net lease properties. SVC owns more than 300 hotels with over 48,000 guest rooms throughout the United States and in Puerto Rico and Canada, the majority of which are extended stay and select service. SVC owns nearly 800 retail service focused net lease properties totaling over 13 million square feet throughout United States. SVC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with more than $32 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. SVC is headquartered in Newton, MA. For more information, visit svcreit.com.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220112005951/en/

Kristin Brown, Director, Investor Relations

(617) 796-8232

Source: Service Properties Trust

FAQ

What is the dividend amount for SVC in 2022?

Service Properties Trust declared a dividend of $0.01 per common share for 2022.

When will the dividend be paid to SVC shareholders?

The dividend will be distributed on or about February 17, 2022.

What factors affect SVC's dividend payments?

SVC's dividend payments are influenced by its income, cash available for distribution, and other financial obligations.

How often does SVC pay dividends?

Service Properties Trust pays dividends quarterly.

Is SVC's dividend sustainable?

Future dividends may vary based on SVC's financial performance and cash flow.