Ryman Hospitality Properties, Inc. Announces Reinstatement of Quarterly Cash Dividend and Provides Operating Update
September 06 2022 - 8:30AM
Ryman Hospitality Properties (NYSE: RHP) (the “Company”), today
announced that the Company has declared a quarterly cash dividend
of $0.10 per common share, to be paid on October 17, 2022, to
stockholders of record as of September 30, 2022. The Company’s new
interim dividend policy is a minimum dividend of 100% of REIT
taxable income annually, subject to the Board of Directors’ future
determinations as to the amount of quarterly distributions and the
timing thereof.
The Company today is also providing a business
update on recent operating trends and supplemental information. The
supplement can be located on the Company’s website under Investor
Relations Home / News & Events / Presentations &
Transcripts
(http://ir.rymanhp.com/index.php/events-and-presentations/presentations).
“I am very pleased with the continued strong
demand that we are seeing in our hospitality business,” said Colin
Reed, Chairman and CEO. “As you can see in our business update, our
hotel performance has remained strong through the summer, as group
room nights travelled in August surpassed 2019 levels. In light of
our recent strong financial performance and continuing path to
recovery, I am pleased to report that our Board of Directors has
reinstated the Company’s quarterly dividend. We remain optimistic
about the future of our business and our long-term prospects.”
About Ryman Hospitality Properties,
Inc.Ryman Hospitality Properties, Inc. (NYSE: RHP) is
a leading lodging and hospitality real estate investment trust that
specializes in upscale convention center resorts and country music
entertainment experiences. The Company’s core
holdings, Gaylord Opryland Resort & Convention
Center, Gaylord Palms Resort & Convention
Center, Gaylord Texan Resort & Convention
Center, Gaylord National Resort & Convention Center,
and Gaylord Rockies Resort & Convention Center, are five
of the top ten largest non-gaming convention center hotels
in the United States based on total indoor meeting space.
These convention center resorts operating under the Gaylord Hotels
brand, along with two adjacent ancillary hotels, are managed by
Marriott International and represent a combined total of 10,412
rooms and more than 2.8 million square feet of total indoor and
outdoor meeting space in top convention and leisure destinations
across the country. The Company also owns a 70% controlling
ownership interest in Opry Entertainment Group (OEG), which is
composed of entities owning a growing collection of iconic and
emerging country music brands, including the Grand Ole
Opry, Ryman Auditorium, WSM 650 AM, Ole Red, Circle, a
country lifestyle media network the Company owns in a joint venture
with Gray Television, Nashville-area attractions managed by
Marriott, and Block 21, a mixed-use entertainment, lodging, office
and retail complex, including the W Austin Hotel and the ACL Live
at Moody Theater, located in downtown Austin, Texas. The Company
operates OEG as part of a taxable REIT subsidiary.
Visit RymanHP.com for more information.
Cautionary Note Regarding
Forward-Looking StatementsThis press release contains
statements as to the Company’s beliefs and expectations of the
outcome of future events that are forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
You can identify these statements by the fact that they do not
relate strictly to historical or current facts. Examples of these
statements include, but are not limited to, statements regarding
the expected approach to making dividend payments and the Board’s
ability to alter the dividend policy at any time. These
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from the
statements made, including, but not limited to, risks and
uncertainties associated with the Company’s ability to effectuate
its dividend policy, including factors such as operating results
and the economic outlook influencing the Board of Directors’
decision whether and when to pay further dividends, the Company’s
ability to generate cash flows to support dividends, future Board
determinations regarding the timing and amount of dividends and
changes to the dividend policy, which could be made at any time.
Other factors that could cause actual results to differ from the
Company’s beliefs and expectations as to the outcome of future
events are described in the filings made from time to time by the
Company with the U.S. Securities and Exchange
Commission and include the risk factors and other risks and
uncertainties described in the Company’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2021, and
subsequent filings. Except as required by law, the Company does not
undertake any obligation to release publicly any revisions to
forward-looking statements made by it to reflect events or
circumstances occurring after the date hereof or the occurrence of
unanticipated events.
Investor Relations Contacts: |
Media Contacts: |
Mark Fioravanti, President |
Shannon Sullivan, Vice President Corporate and Brand
Communications |
Ryman Hospitality Properties, Inc. |
Ryman Hospitality Properties, Inc. |
(615) 316-6588 |
(615) 316-6725 |
mfioravanti@rymanhp.com |
ssullivan@rymanhp.com |
~or~ |
~or~ |
Jennifer Hutcheson, Chief Financial Officer |
Robert Winters |
Ryman Hospitality Properties, Inc. |
Alpha IR Group |
(615) 316-6320 |
(929) 266-6315 |
jhutcheson@rymanhp.com |
robert.winters@alpha-ir.com |
~or~ |
|
Todd Siefert, SVP Finance & Treasurer |
|
Ryman Hospitality Properties, Inc. |
|
(615) 316-6344 |
|
tsiefert@rymanhp.com |
|
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