8-K: Braemar Hotels & Resorts Declares Dividends for Second Quarter 2025

Braemar Hotels & Resorts announces the declaration of cash dividends for its common and preferred stock for the second quarter of 2025.

Summary

• Braemar Hotels & Resorts has declared a quarterly cash dividend of $0.05 per diluted share for its common stock for the second quarter ending June 30, 2025.
• This common stock dividend equates to an annual rate of $0.20 per share and is payable on July 15, 2025, to stockholders of record as of June 30, 2025.
• A quarterly cash dividend of $0.3438 per diluted share was declared for the 5.5% Series B Cumulative Convertible Preferred Stock, payable on July 15, 2025, to stockholders of record as of June 30, 2025.
• The company declared a quarterly cash dividend of $0.5156 per diluted share for the 8.25% Series D Cumulative Preferred Stock, payable on July 15, 2025, to stockholders of record as of June 30, 2025.
• Monthly cash dividends were declared for the Series E Redeemable Preferred Stock, with payments of $0.15625 per share on May 15, June 16, and July 15, 2025, to stockholders of record as of April 30, May 30, and June 30, 2025, respectively.
• Monthly cash dividends were declared for specific CUSIPs of the Series M Redeemable Preferred Stock, with payments of $0.17708 per share on May 15, June 16, and July 15, 2025, to stockholders of record as of April 30, May 30, and June 30, 2025, respectively.
• Monthly cash dividends were declared for all remaining CUSIPs of the Series M Redeemable Preferred Stock, with payments of $0.17500 per share on May 15, June 16, and July 15, 2025, to stockholders of record as of April 30, May 30, and June 30, 2025, respectively.
• As of March 31, 2025, there were 13,909,632 shares of Series E and 1,459,040 shares of Series M Redeemable Preferred Stock issued and outstanding.

Sentiment

Score: 7

Explanation: The announcement is a routine dividend declaration, which is generally viewed positively by investors, hence the neutral to slightly positive sentiment.

Positives

• The declaration of dividends across multiple classes of stock may be viewed positively by investors.
• The announcement provides clarity on the dividend payments for the upcoming quarter.

Risks

• The press release includes a forward-looking statements disclaimer, highlighting risks and uncertainties that could affect future dividend payments.
• The company's ability to repay, refinance, or restructure debt could impact its dividend policy.

Future Outlook

The company's future plans and strategy are subject to risks and uncertainties as detailed in their SEC filings.

Industry Context

As a REIT focused on luxury hotels and resorts, Braemar's dividend policy is likely influenced by the performance of the hospitality sector and overall economic conditions.

Comparison to Industry Standards

• It is difficult to compare the dividend yields without knowing the share prices of Braemar's common and preferred stock.
• Other hotel REITs such as Host Hotels & Resorts and Park Hotels & Resorts also issue dividends, and their yields and payout ratios could be used as benchmarks.

Stakeholder Impact

• Shareholders will receive dividend payments as declared.
• The dividend announcement could influence investor sentiment and stock price.

Key Dates

Keywords

dividends, Braemar Hotels & Resorts, BHR, common stock, preferred stock, quarterly dividend, cash dividend