Braemar Hotels & Resorts Inc. - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on July 14, 2021, by Braemar Hotels & Resorts Inc. The report discloses the declaration of cash dividends for various classes of preferred stock for the third quarter ending September 30, 2021, and subsequent monthly payments.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. It focuses exclusively on dividend declarations and outstanding share counts for preferred stock classes.
Material Changes and Dividend Declarations
The Board of Directors declared the following dividends:
- Series B Cumulative Convertible Preferred Stock (5.5%): Quarterly dividend of $0.3438 per diluted share. Payable October 15, 2021, to shareholders of record as of September 30, 2021.
- Series D Cumulative Preferred Stock (8.25%): Quarterly dividend of $0.5156 per diluted share. Payable October 15, 2021, to shareholders of record as of September 30, 2021.
- Series E Redeemable Preferred Stock: Monthly dividends totaling a quarterly rate of $0.50 per share. Payments of $0.1666 per share are scheduled for August 16, September 15, and October 15, 2021.
- Series M Redeemable Preferred Stock: Monthly dividends totaling a quarterly rate of $0.5125 per share. Payments of $0.1708 per share are scheduled for August 16, September 15, and October 15, 2021.
As of July 9, 2021, there were 22,010 shares of Series E Redeemable Preferred Stock outstanding. There were no shares of Series M Redeemable Preferred Stock issued and outstanding as of that date.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, risk factors, or discussion of unusual items beyond the standard dividend announcements.
Investor Verification Checklist
- Verify the record dates for Series B and Series D dividends (September 30, 2021).
- Confirm the payment dates for Series E and Series M monthly installments (August 16, September 15, and October 15, 2021).
- Note that no Series M shares were outstanding as of July 9, 2021, which may impact the total cash outflow for that class.
- Review the attached press release (Exhibit 99.1) for any additional context not included in the 8-K text.