Host Hotels & Resorts, Inc. Announces Fourth Quarter Dividend and Special Dividend on Common Stock
December 14 2017 - 4:15PM
Host Hotels & Resorts, Inc. (NYSE:HST), the nation’s largest
lodging real estate investment trust, today announced that its
board of directors authorized a regular quarterly cash dividend of
$0.20 per share and a special dividend of $0.05 per share, bringing
the total dividends declared for the year to $0.85 per share.
The dividend is payable on January 15, 2018, to stockholders of
record on December 29, 2017.
About Host Hotels &
ResortsHost 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 88 properties
in the United States and 6 properties internationally totaling
approximately 52,500 rooms. The Company also holds non-controlling
interests in seven joint ventures, including one in Europe that
owns 10 hotels with approximately 3,900 rooms. 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.
Bret D.S. McLeodSenior Vice President240.744.5216
Gee LingbergVice President240.744.5275
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