AHT uses a chainsaw on their dividend | REITs Message Board Posts

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Msg  12049 of 12169  at  6/14/2019 1:52:26 PM  by


AHT uses a chainsaw on their dividend

Stock down about 15% on the bad news.
DALLAS, June 14, 2019 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or
the “Company”) announced today that its Board of Directors declared a quarterly cash dividend
of $0.06 per diluted share for the Company’s common stock for the second quarter ending June
30, 2019. The dividend, which equates to an annual rate of $0.24 per share, will be distributed on
July 15, 2019, to shareholders of record as of June 28, 2019.

“Our Board of Directors set the quarterly common dividend at a level that it believes is
competitive with our lodging REIT peers,” said Douglas A. Kessler, Ashford Trust’s President
and Chief Executive Officer. “For some time, our dividend has significantly exceeded what we
would have needed to distribute from a taxable income standpoint. This adjustment effectively
preserves capital for more advantageous purposes including strengthening our balance sheet and
enhancing our ability to pursue more opportunistic growth such as acquisitions that qualify for
our Enhanced Return Funding Program (“ERFP”). One of the intended purposes of the ERFP is
to make good deals, great deals. We believe we are having success in achieving that goal. To
date, we have been pleased with the strong performance and attractive initial results from our
recent ERFP acquisitions, namely the Hilton Alexandria Old Town, La Posada de Santa Fe,
Embassy Suites New York Midtown Manhattan, and Hilton Santa Cruz/Scotts Valley.”


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Msg # Subject Author Recs Date Posted
12050 Re: AHT uses a chainsaw on their dividend rlp2451 1 6/14/2019 2:35:36 PM

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