DiamondRock Hospitality Company announced the redemption of all outstanding shares of its 8.250% Series A Cumulative Redeemable Preferred Stock.
The redemption will take place on December 31, 2025, utilizing cash on hand to fund the redemption price of $25.00 per share plus accrued dividends.
Quarterly dividend of $0.515625 per share declared on November 19, 2025, payable on December 31, 2025.
Redemption Announcement
All 4,760,000 outstanding shares of the Series A Preferred Stock will be redeemed by December 31, 2025.
Funding Source
Approximately $121.5 million cash on hand will be used to fund the redemption price of $25.00 per share.
Dividend Declaration
Quarterly dividend of $0.515625 per share declared, payable on the date of redemption.
- The redemption will eliminate the Series A Preferred Stock from the Company's outstanding securities.
- Dividends will no longer accrue on the Series A Preferred Stock after the Redemption Date.
This redemption demonstrates the Company's strategic financial management and commitment to shareholders.