Braemar Hotels & Resorts Inc. - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K, dated July 11, 2024, reports on the declaration of cash dividends by the Board of Directors of Braemar Hotels & Resorts Inc. The filing covers dividend announcements for the third quarter ending September 30, 2024, and monthly dividends for specific preferred stock series payable in August, September, and October 2024.
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 as of June 30, 2024.
- Common Stock: Quarterly dividend of $0.05 per diluted share (annualized rate of $0.20).
- Series B Preferred: Quarterly dividend of $0.3438 per diluted share.
- Series D Preferred: Quarterly dividend of $0.5156 per diluted share.
- Series E Preferred: Monthly dividend of $0.15625 per share.
- Series M Preferred: Monthly dividends ranging from $0.17292 to $0.17708 per share depending on the specific CUSIP.
Material Changes
This filing does not report material changes to financial performance compared to prior periods. It serves as a regulatory disclosure of the Board's decision to maintain or declare specific dividend payments.
Outlook, Risks, and Unusual Items
The filing contains no management commentary on future outlook, risks, contingencies, or unusual items. The primary action is the scheduled payment of dividends to stockholders of record as of specific dates in July, August, and September 2024, with payments due in August, September, and October 2024.
Key Facts for Investor Verification
- Record Dates: Verify stock ownership status as of July 31, August 30, and September 30, 2024, to qualify for respective dividend payments.
- Payment Dates: Confirm dividend receipt dates of August 15, September 16, and October 15, 2024.
- Outstanding Shares: As of June 30, 2024, there were 16,142,350 shares of Series E and 1,622,772 shares of Series M Redeemable Preferred Stock outstanding.
- Dividend Rates: Note the specific per-share amounts for different Series M CUSIPs, which vary slightly ($0.17292, $0.17500, $0.17708).