Park Hotels & Resorts Announces Fourth Quarter Dividend of $1.00 Per Share
12 Dicembre 2018 - 11:27PM
Business Wire
Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the
“Company”) announced today that the Company has declared a fourth
quarter cash dividend of $1.00 per share of common stock. The
dividend will be paid on January 15, 2019 to holders of record as
of December 31, 2018.
Of the full $1.00 per share dividend, $0.70 per share represents
the fourth quarter payment based on 2018 results of operations. The
remaining $0.30 per share is attributable to gains from the sale of
Park’s assets during 2018.
The $0.70 per share portion representing the fourth quarter
payment based on 2018 results of operations, together with the
regular cash dividends paid with respect to the first three
quarters of 2018, in the aggregate represent an annual yield of
6.8% based on the closing stock price as of December 12, 2018.
About Park Hotels &
Resorts
Park Hotels & Resorts Inc. (NYSE: PK) is the second largest
publicly traded lodging real estate investment trust with a diverse
portfolio of market-leading hotels and resorts with significant
underlying real estate value. Park’s portfolio currently consists
of 54 premium-branded hotels and resorts with over 32,000 rooms
located in prime U.S. markets with high barriers to entry. For
additional information, please visit Park's website at
www.pkhotelsandresorts.com.
Special Note About Forward Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include, but are not limited
to, statements related to Park’s current expectations regarding the
performance of its business, financial results, liquidity and
capital resources, the effects of competition and other
non-historical statements. Forward-looking statements include all
statements that are not historical facts and, in some cases, can be
identified by the use of forward-looking terminology such as the
words “outlook,” “believes,” “expects,” “potential,” “continues,”
“may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,”
“intends,” “plans,” “estimates,” “anticipates” or the negative
version of these words or other comparable words. Forward-looking
statements involve risks, uncertainties and assumptions. Actual
results may differ materially from those expressed in these
forward-looking statements. You should not put undue reliance on
any forward-looking statements in this press release. Additional
factors that could cause Park’s results to differ materially from
those described in the forward-looking statements can be found
under the sections entitled “Forward-Looking Statements,” “Risk
Factors” and “Management's Discussion and Analysis of Financial
Condition and Results of Operations” (or similar captions) in
Park’s Annual Report on Form 10-K for the year ended December 31,
2017, filed with the SEC, as such factors may be updated from time
to time in Park’s periodic reports or other filings with the SEC,
which are accessible on the SEC’s website at www.sec.gov.
Forward-looking statements speak only as of the date on which they
are made and Park undertakes no obligation to update or revise
publicly any guidance or other forward-looking statement, whether
as a result of new information, future developments or otherwise,
except as required by law.
For additional information or to receive press
releases via e-mail, please visit our website at
www.pkhotelsandresorts.com
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version on businesswire.com: https://www.businesswire.com/news/home/20181212005892/en/
Ian WeissmanSenior Vice President, Corporate
Strategy571-302-5591iweissman@pkhotelsandresorts.com
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