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 distribution is set for shareholders of record by the close of business on January 25, 2021, with payment expected around February 18, 2021. The company is a real estate investment trust with a portfolio of hotels and retail properties across the U.S., Puerto Rico, and Canada. Future dividends may vary based on several factors assessed by SVC's Board of Trustees.

Positive

• Regular dividend of $0.01 per share indicates ongoing shareholder returns.

Negative

• Future dividends are not guaranteed and may fluctuate based on board decisions.

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 25, 2021 and distributed on or about February 18, 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.

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FAQ

What is the dividend amount for SVC in 2021?

Service Properties Trust (SVC) declared a dividend of $0.01 per common share for 2021.

When will SVC’s dividend be paid?

The dividend will be paid on or about February 18, 2021.

Who is eligible for the SVC dividend?

Shareholders of record as of the close of business on January 25, 2021, will receive the dividend.

How often does SVC pay dividends?

SVC typically pays dividends quarterly, subject to board approval.

Is the SVC dividend sustainable?

Future dividends may vary based on various financial considerations and board decisions.