XENIA HOTELS & RESORTS DECLARES DIVIDEND FOR FOURTH QUARTER 2022 AND ANNOUNCES BOARD APPROVAL FOR A $100 MILLION INCREASE IN SHARE REPURCHASE PROGRAM

Rhea-AI Summary

Xenia Hotels & Resorts, Inc. (NYSE: XHR) has declared a cash dividend of $0.10 per share for Q4 2022, payable on January 13, 2023, to shareholders of record as of December 30, 2022. Additionally, the company authorized a $100 million increase in its share repurchase program, bringing the total repurchase authorization to approximately $173 million. The repurchase may occur through open market transactions or private negotiations, subject to the Board's discretion.

Positive

• Q4 2022 cash dividend of $0.10 per share enhances shareholder returns.
• Authorization for an additional $100 million share repurchase program could support share price.
• Total repurchase authorization now at approximately $173 million, indicating strong capital management.

Negative

• None.

ORLANDO, Fla. , Nov. 18, 2022 /PRNewswire/ -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced that its Board of Directors authorized a cash dividend of $0.10 per share of the Company's common stock for the fourth quarter 2022. The dividend will be paid on January 13, 2023, to all holders of record of the Company's common stock as of the close of business on December 30, 2022. Consistent with prior practice, all future dividend determinations are subject to approval by the Company's Board of Directors.

In addition, the Company's Board of Directors authorized the repurchase of up to an additional $100 million of the Company's outstanding common shares. Repurchases may be made in the open market and privately negotiated transactions, or by other means, including Rule 10b5-1 trading plans. The repurchase program may be suspended or discontinued at any time and does not obligate the Company to acquire any particular amount of shares. Inclusive of this additional authorization, the Company had approximately $173 million remaining under its total repurchase authorization as of November 17, 2022.

About Xenia Hotels & Resorts, Inc.

Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT that invests in uniquely positioned luxury and upper upscale hotels and resorts, with a focus on the top 25 lodging markets as well as key leisure destinations in the United States. The Company owns 33 hotels comprising 9,697 rooms across 14 states. Xenia's hotels are in the luxury and upper upscale segments and operated and/or licensed by industry leaders such as Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, The Kessler Collection, and Davidson. For more information on Xenia's business, refer to the Company website at www.xeniareit.com.

For additional information or to receive press releases via email, please visit our website at www.xeniareit.com

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SOURCE Xenia Hotels & Resorts, Inc.

FAQ

What is the dividend amount declared by Xenia Hotels & Resorts for Q4 2022?

Xenia Hotels & Resorts declared a dividend of $0.10 per share for Q4 2022.

When will the dividend for Q4 2022 be paid?

The dividend will be paid on January 13, 2023, to shareholders of record as of December 30, 2022.

What is the new total amount for Xenia's share repurchase program?

The new total for Xenia's share repurchase program is approximately $173 million.

How much was authorized for the share repurchase program?

The Board of Directors authorized an additional $100 million for the share repurchase program.

What could the share repurchase program mean for Xenia's stock price?

The share repurchase program could potentially support Xenia's stock price by reducing the number of outstanding shares.