Service Properties Trust Announces Quarterly Dividend on Common Shares
Service Properties Trust (NASDAQ:SVC) today announced a regular quarterly cash distribution on its common shares of $0.01 per share ($0.04 per share per year). This distribution will be paid to SVC's common shareholders of record as of the close of business on January 27, 2025 and distributed on or about February 20, 2025.
About Service Properties Trust
Service Properties Trust (NASDAQ:SVC) is a real estate investment trust with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of September 30, 2024, SVC owned 214 hotels with over 36,000 guest rooms throughout the United States and in Puerto Rico and Canada. As of September 30, 2024, SVC also owned 745 retail service-focused net lease properties totaling over 13.3 million square feet throughout United States. SVC is managed by The RMR Group (NASDAQ:RMR), a leading U.S. alternative asset management company with nearly $41 billion in assets under management as of September 30, 2024, and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. SVC is headquartered in Newton, MA. For more information, visit www.svcreit.com.
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon SVC's present intent, beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond SVC's control.
For example, this press release states that SVC's regular quarterly cash distribution rate is $0.01 per share per quarter or $0.04 per share per year. A possible implication of this statement is that SVC will continue to pay quarterly distributions of $0.01 per share per quarter or $0.04 per share per year in the future. SVC's distribution rate may be set and reset from time to time by SVC's Board of Trustees. SVC's Board of Trustees considers many factors when setting or resetting SVC's distribution rate, including SVC's historical and projected net income, funds from operations and normalized funds from operations, cash available for distribution, requirements to maintain SVC's qualification for taxation as a REIT, the then current and expected needs and availability of cash to pay SVC's obligations and fund its investments, limitations in SVC's debt agreements, the availability to SVC of debt and equity capital, SVC's dividend yield and its dividend yield compared to the dividend yields of other REITs, SVC's expectation of its future capital requirements and operating performance, SVC's expected needs for and availability of cash to pay its obligations and other factors deemed relevant by SVC's Board of Trustees in its discretion. Accordingly, future distributions to SVC's shareholders may be increased or decreased and SVC cannot be sure as to the rate at which future distributions will be paid.
You should not place undue reliance upon forward-looking statements.
Except as required by law, SVC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
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Kevin Barry, Senior Director, Investor Relations
(617) 796-8232