Summit Hotel Properties, Inc. (NYSE: INN), announced that its Board of Directors has authorized, and the Company has declared, a cash dividend of $0.390625 per share of the Company’s 6.25% Series E Cumulative Redeemable Preferred Stock for the dividend period ending on February 28, 2022, and a cash dividend of $0.3671875 per share of the Company’s 5.875% Series F Cumulative Redeemable Preferred Stock for the dividend period ending on February 28, 2022.
The Board of Directors has also authorized, and the Company has declared on behalf of the operating partnership, a cash dividend of $0.171354 per share of the operating partnership’s unregistered 5.25% Series Z Cumulative Perpetual Preferred Units that were issued on January 13, 2022, as part of the recently announced NewcrestImage portfolio acquisition.
The dividends are payable on February 28, 2022, to holders of record as of February 14, 2022.
Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of January 28, 2022, the Company’s portfolio consisted of 100 hotels, 61 of which are wholly owned, with a total of 15,051 guestrooms located in 24 states.
