DALLAS, Dec. 11, 2017 /PRNewswire/ -- Ashford
Hospitality Prime, Inc. (NYSE: AHP ("Ashford Prime" or the "Company") today announced
that its Board of Directors declared a quarterly cash dividend of
$0.16 per diluted share for the
Company's common stock for the fourth quarter ending December 31, 2017. The dividend, which
equates to an annual rate of $0.64
per share, is payable on January 16,
2018, to shareholders of record as of December 29, 2017.
The Board also approved the Company's dividend policy for 2018.
The Company expects to pay a quarterly cash dividend of
$0.16 per share for 2018, or
$0.64 per share on an annualized
basis. The Board will continue to review its dividend policy
on a quarter-to-quarter basis. The adoption of a dividend
policy does not commit the Board of Directors to declare future
dividends or the amount thereof.
The Board declared a quarterly cash dividend of $0.3438 per diluted share for the Company's 5.5%
Series B Cumulative Convertible Preferred Stock for the fourth
quarter ending December 31, 2017.
The dividend, which equates to an annual rate of $1.375 per share, is payable on January 16, 2018, to shareholders of record as of
December 29, 2017.
Ashford Hospitality Prime is a real estate investment trust
(REIT) focused on investing in luxury hotels and resorts.
Ashford has created an Ashford App for the hospitality REIT
investor community. The Ashford App is available for free
download at Apple's App Store and
the Google Play Store by searching "Ashford."
Certain statements and assumptions in this press release
contain or are based upon "forward-looking" information and are
being made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements in this press release include, among others, statements
about the implied share price for the Company's common stock.
These forward-looking statements are subject to risks and
uncertainties. When we use the words "will likely result,"
"may," "anticipate," "estimate," "should," "expect," "believe,"
"intend," or similar expressions, we intend to identify
forward-looking statements. Such statements are subject to
numerous assumptions and uncertainties, many of which are outside
Ashford Prime's control.
The forward-looking statements included in this press release
are only made as of the date of this press release. Investors
should not place undue reliance on these forward-looking
statements. We are not obligated to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or circumstances, changes in
expectations or otherwise.
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SOURCE Ashford Hospitality Prime, Inc.