2024 Total Common Dividends: $0.32 Per Share
BETHESDA, Md., Dec. 9, 2024 — DiamondRock Hospitality Company (the “Company”) (NYSE: DRH) declared a $0.23 per common share fourth-quarter dividend. This includes the regular quarterly dividend of $0.03 per share and a $0.20 stub dividend. Shareholders of record as of December 31, 2024 will receive the dividend on January 14, 2025.
Including regular dividends from the first three quarters of 2024, total dividends reach $0.32 per share, representing a 3.3% annual yield based on the December 6, 2024 closing stock price. The Company anticipates $0.08 per share regular quarterly dividends in 2025, plus a potential fourth-quarter stub dividend, contingent on 2025 operating income.
A $0.515625 per share quarterly dividend on its 8.250% Series A Cumulative Redeemable Preferred Stock was also declared by the Company’s Board of Directors. Payment is scheduled for December 31, 2024 to shareholders of record as of December 20, 2024.
About the Company
DiamondRock Hospitality Company, a self-advised real estate investment trust (REIT), owns a leading portfolio of geographically diverse hotels in leisure destinations and major gateway markets. The Company’s current holdings comprise 37 high-quality hotels and resorts with over 10,000 rooms, strategically managed under leading global brands and as independent boutique lifestyle hotels. Visit DiamondRock Hospitality Company’s website for more information.
This press release includes forward-looking statements under federal securities laws and regulations. These statements, identified by words like “believe,” “expect,” “intend,” “project,” “forecast,” “plan,” and similar expressions, including assumptions and future result projections, are not guarantees of future performance. They involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially. These risks include, but are not limited to: negative impacts from future pandemics, epidemics, or infectious disease outbreaks on the U.S., regional, and global economies, travel, the hospitality industry, and the Company’s financial condition and results; national and local economic and business conditions, including potential terrorist attacks, affecting hotel occupancy and demand; hotel business operating risks; relationships with property managers; competitive pressures; changes in travel patterns, taxes, and government regulations affecting wages, prices, construction, and costs; and other risks detailed in the Company’s SEC filings. While the Company believes its expectations are based on reasonable assumptions, it cannot guarantee their attainment or that any deviation will be immaterial. All information is current as of the release date; the Company has no obligation to update forward-looking statements.
SOURCE DiamondRock Hospitality Company
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