Marks Eighth Consecutive Year with a Dividend Increase
NEWTON, Mass.--(BUSINESS WIRE)--
Hospitality Properties Trust (Nasdaq: HPT) today announced it has raised
its regular quarterly cash distribution on its common shares by $0.01 to
$0.54 per common share ($2.16 per share per year). This distribution
will be paid to HPT’s common shareholders of record as of the close of
business on April 29, 2019 and distributed on or about May 16, 2019.
Since August 2012, HPT’s common dividend has increased annually for
eight consecutive years.
Hospitality Properties Trust is a real estate investment trust, or REIT,
which owns a diverse portfolio of hotels and travel centers located in
45 states, Washington, DC, Puerto Rico and Canada. HPT's properties are
operated under long term management or lease agreements. HPT is managed
by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an
alternative asset management company that is headquartered in Newton,
Massachusetts.
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
HPT’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 HPT’s control. For
example, this press release states that HPT’s dividend rate will be
$0.54/share per quarter or $2.16/share per year. A possible implication
of this statement is that HPT will continuously pay quarterly dividends
of $0.54/share per quarter or $2.16/share per year in the future. In
addition, this press release also states that HPT has increased its
dividend annually for eight consecutive years. A possible implication of
this statement is that HPT will continue to increase its annual dividend
in the future. HPT’s dividend rates are set and reset from time to time
by HPT’s Board of Trustees. The HPT Board considers many factors when
setting dividend rates including HPT’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 HPT’s
obligations and fund HPT’s investments, distributions which may be
required to be paid to maintain HPT’s tax status as a real estate
investment trust and other factors deemed relevant by HPT’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/20190418005173/en/
Katie Strohacker, Senior Director, Investor Relations
(617) 796-8232
www.hptreit.com
Source: Hospitality Properties Trust