Business Context and Reporting Period
Company: Ashford Hospitality Trust, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: December 11, 2017
Subject: Regulation FD Disclosure regarding the declaration of dividends for the fourth quarter ending December 31, 2017, and the approval of the 2018 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.
| Security Class | Dividend Amount (per diluted share) | Payment Date | Record Date |
|---|---|---|---|
| Common Stock | $0.12 | January 16, 2018 | December 29, 2017 |
| 8.45% Series D Cumulative Preferred Stock | $0.5281 | January 16, 2018 | December 29, 2017 |
| 7.375% Series F Cumulative Preferred Stock | $0.4609 | January 16, 2018 | December 29, 2017 |
| 7.375% Series G Cumulative Preferred Stock | $0.4609 | January 16, 2018 | December 29, 2017 |
| 7.50% Series H Cumulative Preferred Stock | $0.46875 (Pro-rated) | January 16, 2018 | December 29, 2017 |
| 7.50% Series I Cumulative Preferred Stock | $0.229167 (Pro-rated) | January 16, 2018 | December 29, 2017 |
Note: The source text lists the payment date as "January 16, 2017," which is a typographical error given the report date of December 2017. The payment date is logically January 16, 2018.
Material Changes and Outlook
2018 Dividend Policy: The Board of Directors approved a dividend policy for 2018, expecting to pay a quarterly cash dividend of $0.12 per share on common stock. The Board will continue to review the policy on a quarter-to-quarter basis.
Management Commentary: The adoption of this policy does not commit the Board to declare future dividends or the specific amounts thereof.
Risks and Contingencies: The filing does not disclose new material risks or contingencies beyond the standard disclaimer regarding future dividend declarations.
Investor Verification Checklist
- Verify the record date of December 29, 2017, to confirm eligibility for the declared dividends.
- Confirm the pro-rata calculation for Series H and Series I Preferred Stock dividends based on days outstanding in Q4 2017.
- Monitor future 8-K filings or quarterly reports for any changes to the $0.12 quarterly common stock dividend policy for 2018.
- Review the attached press release (Exhibit 99.1) for any additional context not summarized in the 8-K text.