Braemar Hotels & Resorts Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Braemar Hotels & Resorts Inc. on April 5, 2023. The filing discloses the declaration of cash dividends for the second quarter ending June 30, 2023, and monthly dividends for specific preferred stock series.
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 March 31, 2023.
- Common Stock Dividend: $0.05 per diluted share.
- Series B Preferred Stock Dividend: $0.3438 per diluted share.
- Series D Preferred Stock Dividend: $0.5156 per diluted share.
- Series E Preferred Stock Dividend: Quarterly rate of $0.4844 per share (paid monthly).
- Series M Preferred Stock Dividend: Quarterly rate of $0.5188 per share for specific CUSIPs and $0.5125 per share for remaining CUSIPs (paid monthly).
- Outstanding Shares (as of March 31, 2023): 16,474,167 shares of Series E and 1,960,270 shares of Series M.
Material Changes
The filing does not report material changes in financial performance compared to prior periods. It reports the routine declaration of dividends for the upcoming quarter.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or discussion of risks and contingencies. The primary action is the payment schedule for declared dividends:
- Common, Series B, and Series D: Payable July 17, 2023, to stockholders of record as of June 30, 2023 (Series B record date is June 29, 2023).
- Series E and Series M: Monthly payments scheduled for May 15, 2023; June 15, 2023; and July 17, 2023, with corresponding record dates of April 28, May 31, and June 30, 2023.
Investor Verification Checklist
- Verify the record dates for Common, Series B, Series D, Series E, and Series M stock to ensure eligibility for the declared dividends.
- Confirm the total cash outflow required for the dividend payments based on the outstanding share counts provided.
- Review the attached press release (Exhibit 99.1) for any additional context regarding the company's liquidity position supporting these payments.