Marks Seventh 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
$0.53 per common share ($2.12 per share per year). This distribution
will be paid to HPT’s common shareholders of record as of the close of
business on April 30, 2018 and distributed on or about May 17, 2018.
Since August 2012, HPT’s common dividend has increased annually for
seven consecutive years for a total increase of 17.8%.
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, 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
$0.53/SHARE PER QUARTER OR $2.12/SHARE PER YEAR. A POSSIBLE IMPLICATION
OF THIS STATEMENT IS THAT HPT WILL CONTINUOUSLY PAY QUARTERLY DIVIDENDS
OF $0.53/SHARE PER QUARTER OR $2.12/SHARE PER YEAR IN THE FUTURE. IN
ADDITION, THIS PRESS RELEASE ALSO STATES THAT HPT HAS INCREASED ITS
DIVIDEND ANNUALLY FOR SEVEN CONSECUTIVE YEARS AND FOR A TOTAL INCREASE
OF 17.8%. 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, THE THEN CURRENT AND EXPECTED NEEDS AND AVAILABILITY OF CASH
TO PAY HPT’S OBLIGATIONS, 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.
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Source: Hospitality Properties Trust