Service Properties Trust Announces Quarterly Dividend on Common Shares

Rhea-AI Summary

Service Properties Trust (Nasdaq: SVC) announced a quarterly cash dividend of $0.01 per common share, totaling $0.04 annually. The dividend will benefit shareholders of record by July 25, 2022 and is scheduled for payment on or about August 18, 2022. The company manages approximately $12 billion in assets, primarily in the hospitality and retail sectors, owning 247 hotels and 775 retail properties across the U.S., Puerto Rico, and Canada.

Positive

• Quarterly cash dividend of $0.01 per share ($0.04 annually) announced.
• Significant asset base of approximately $12 billion in hotels and retail properties.

Negative

• Future dividend rates may be subject to fluctuations, with no assurance of consistent payments.

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 July 25, 2022 and distributed on or about August 18, 2022.

About Service Properties Trust:

Service Properties Trust (Nasdaq: SVC) is a real estate investment trust, or REIT, with approximately $12 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of June 30, 2022, SVC owned 247 hotels with over 41,000 guest rooms throughout the United States and in Puerto Rico and Canada, the majority of which are extended stay and select service. As of June 30, 2022, SVC also owned 775 retail service-focused net lease properties totaling over 13 million square feet throughout United States. SVC is managed by The RMR Group (Nasdaq: RMR), an alternative asset management company with more than $37 billion in assets under management as of March 31, 2022 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 www.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.

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/20220713005865/en/

Kristin Brown, Director, Investor Relations

(617) 796-8232

Source: Service Properties Trust

FAQ

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

Service Properties Trust announced a dividend of $0.01 per share.

When will the dividend be paid to shareholders of Service Properties Trust (SVC)?

The dividend will be paid on or about August 18, 2022.

Who is eligible for the dividend from Service Properties Trust (SVC)?

Shareholders of record as of July 25, 2022, are eligible for the dividend.

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

The annual dividend rate is $0.04 per share.

Are the dividends from Service Properties Trust (SVC) sustainable?

Future dividends may vary; there is no assurance of consistent payments.