Business Context and Reporting Period
Company: Ashford Hospitality Trust, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: December 10, 2018
Subject: Regulation FD Disclosure regarding the declaration of quarterly dividends for common and preferred stock and the approval of the 2019 dividend policy.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics. It focuses exclusively on dividend declarations.
- Common Stock Dividend (Q4 2018): $0.12 per diluted share.
- Preferred Stock Dividends (Q4 2018):
- 8.45% Series D: $0.5281 per diluted share.
- 7.375% Series F: $0.4609 per diluted share.
- 7.375% Series G: $0.4609 per diluted share.
- 7.50% Series H: $0.46875 per diluted share.
- 7.50% Series I: $0.46875 per diluted share.
- Payment Date: January 15, 2019.
- Record Date: December 31, 2018.
Material Changes
The filing does not provide comparative financial data or material changes to operations versus prior periods. The primary change disclosed is the formal declaration of the Q4 2018 dividends and the establishment of a specific dividend policy for 2019.
Guidance, Outlook, and Management Commentary
2019 Dividend Policy: The Board approved a policy to pay a quarterly cash dividend of $0.12 per share for 2019, totaling $0.48 per share on an annualized basis.
Management Commentary: The Board will continue to review its dividend policy on a quarter-to-quarter basis. The filing explicitly states that the adoption of this policy does not commit the Board to declare future dividends or determine the amount thereof.
Investor Verification Checklist
- Verify the record date of December 31, 2018, to confirm eligibility for the declared dividends.
- Confirm the payment date of January 15, 2019, for cash flow planning.
- Note that the 2019 dividend policy is subject to quarterly review and is not a binding commitment for future periods.
- Review the attached press release (Exhibit 99.1) for any additional context not summarized in the 8-K text.