Host Hotels & Resorts, Inc. Announces Third Quarter Dividend on Common Stock
September 15 2016 - 8:30AM
Host Hotels & Resorts, Inc. (NYSE:HST) (“Host Hotels” or the
“Company”), the nation’s largest lodging real estate investment
trust (“REIT”), today announced that its board of directors
authorized a regular quarterly cash dividend of $0.20 per share on
the Company’s common stock representing an annual dividend yield of
nearly 5% based on yesterday’s closing stock price. The
dividend is payable on October 17, 2016, to stockholders of record
on September 30, 2016.
About Host Hotels &
Resorts
Host Hotels & Resorts, Inc. is an
S&P 500 and Fortune 500 company and is the largest lodging real
estate investment trust and one of the largest owners of luxury and
upper-upscale hotels. The Company currently owns 89 properties
in the United States and 9 properties internationally totaling
approximately 54,500 rooms. The Company also holds non-controlling
interests in six joint ventures, including one in Europe that owns
10 hotels with approximately 3,900 rooms and one in Asia that has
interests in five hotels in India. Guided by a disciplined approach
to capital allocation and aggressive asset management, the Company
partners with premium brands such as Marriott®, Ritz-Carlton®,
Westin®, Sheraton®, W®, St. Regis®, Le Meridien®, The Luxury
Collection®, Hyatt®, Fairmont®, Hilton®, Swissôtel®, ibis®,
Pullman®, and Novotel® as well as independent brands in the
operation of properties in over 50 major markets worldwide. For
additional information, please visit the Company's website at
www.hosthotels.com.
Note: This press release contains
forward-looking statements within the meaning of federal securities
regulations. These forward-looking statements are identified by
their use of terms and phrases such as "anticipate," "believe,"
"could," "estimate," "expect," "intend," "may," "should," "plan,"
"predict," "project," "will," "continue" and other similar terms
and phrases, including references to assumptions and forecasts of
future results. Forward-looking statements are not guarantees of
future performance and involve known and unknown risks,
uncertainties and other factors which may cause the actual results
to differ materially from those anticipated at the time the
forward-looking statements are made. These risks include, but are
not limited to: changes in national and local economic and business
conditions and other factors such as natural disasters, pandemics
and weather that will affect occupancy rates at our hotels and the
demand for hotel products and services; the impact of geopolitical
developments outside the U.S. on lodging demand; volatility in
global financial and credit markets; operating risks associated
with the hotel business; risks and limitations in our operating
flexibility associated with the level of our indebtedness and our
ability to meet covenants in our debt agreements; risks associated
with our relationships with property managers and joint venture
partners; our ability to maintain our properties in a first-class
manner, including meeting capital expenditure requirements; the
effects of hotel renovations on our hotel occupancy and financial
results; our ability to compete effectively in areas such as
access, location, quality of accommodations and room rate
structures; risks associated with our ability to complete
acquisitions and dispositions and develop new properties and the
risks that acquisitions and new developments may not perform in
accordance with our expectations; our ability to continue to
satisfy complex rules in order for us to remain a REIT for federal
income tax purposes; risks associated with our ability to
effectuate our dividend policy, including factors such as operating
results and the economic outlook influencing our board’s decision
whether to pay further dividends at levels previously disclosed;
and other risks and uncertainties associated with our business
described in the Company's annual report on Form 10-K, quarterly
reports on Form 10-Q and current reports on Form 8-K filed with the
SEC. Although the Company believes the expectations reflected in
such forward-looking statements are based upon reasonable
assumptions, it can give no assurance that the expectations will be
attained or that any deviation will not be material. All
information in this release is as of the date of this release, and
the Company undertakes no obligation to update any forward-looking
statement to conform the statement to actual results or changes in
the Company's expectations.
*This press release contains registered
trademarks that are the exclusive property of their respective
owners. None of the owners of these trademarks has any
responsibility or liability for any information contained in this
press release.
Contact:
Gee Lingberg
Vice President
240.744.5275
Host Hotels and Resorts (NYSE:HST)
Historical Stock Chart
From Mar 2024 to Apr 2024
Host Hotels and Resorts (NYSE:HST)
Historical Stock Chart
From Apr 2023 to Apr 2024