
AUSTIN, Texas, January 23, 2025 — Summit Hotel Properties, Inc. (NYSE: INN) announced a cash dividend of $0.08 per share for the fourth quarter of 2024, applicable to both common stock and common units of its operating partnership. This equates to a 4.8 percent annualized dividend yield based on the January 22, 2025 closing stock price.
Further dividends declared include $0.390625 per share of 6.25% Series E Cumulative Redeemable Preferred Stock (period ending February 28, 2025) and $0.3671875 per share of 5.875% Series F Cumulative Redeemable Preferred Stock (period ending February 28, 2025). A $0.328125 per unit distribution was also declared for the operating partnership’s 5.25% Series Z Cumulative Perpetual Preferred Units (distribution period ending February 28, 2025).
All dividends are payable on February 28, 2025, to shareholders and unit holders of record as of February 14, 2025.
About Summit Hotel Properties
Summit Hotel Properties, Inc. is a publicly traded real estate investment trust (REIT) specializing in premium-branded hotels, primarily in the Upscale segment. As of January 23, 2025, its portfolio comprised 97 properties (53 wholly owned), totaling 14,553 guest rooms across 25 states.
For more information, visit the Company’s website, and follow the Company on X at @SummitHotel_INN.
Forward Looking Statements
This release includes forward-looking statements, as defined in Sections 27A of the Securities Act of 1933 and 21E of the Securities Act of 1934, and under the Private Securities Litigation Reform Act of 1995. These statements, concerning dividend payments, are based on assumptions and may involve future expectations, plans, strategies, financial projections, and other forward-looking information. Actual results could differ materially due to various risks and uncertainties, including economic conditions and industry dynamics, as detailed in the Company’s SEC filings, such as its Form 10-K for the year ended December 31, 2023. The Company disclaims any obligation to update these statements unless legally required.
SOURCE Summit Hotel Properties, Inc.