Hospitality Properties Trust Announces Quarterly Dividend on Common Shares

Business Wire 13-Jan-2017 4:01 PM

NEWTON, Mass.--(BUSINESS WIRE)-- Hospitality Properties Trust (Nasdaq: HPT) today announced a regular quarterly cash distribution on its common shares of $0.51 per common share ($2.04 per share per year). This distribution will be paid to HPTs common shareholders of record as of the close of business on January 23, 2017 and distributed on or about February 21, 2017.

Hospitality Properties Trust is a real estate investment trust, or REIT, which owns a diverse portfolio of hotels and travel centers located in 45 states, Puerto Rico and Canada. HPT's properties are operated under long term management or lease agreements. HPT is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

WARNING REGARDING 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 HPTS PRESENT 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 HPTS CONTROL. FOR EXAMPLE, THIS PRESS RELEASE STATES THAT HPTS DIVIDEND RATE WILL BE $0.51/SHARE PER QUARTER OR $2.04/SHARE PER YEAR. A POSSIBLE IMPLICATION OF THIS STATEMENT IS THAT HPT WILL CONTINUOUSLY PAY QUARTERLY DIVIDENDS OF $0.51/SHARE PER QUARTER OR $2.04/SHARE PER YEAR IN THE FUTURE. HPTS DIVIDEND RATES ARE SET AND RESET FROM TIME TO TIME BY HPTS BOARD OF TRUSTEES. THE HPT BOARD CONSIDERS MANY FACTORS WHEN SETTING DIVIDEND RATES INCLUDING HPTS HISTORICAL AND PROJECTED INCOME, NORMALIZED FUNDS FROM OPERATIONS, THE THEN CURRENT AND EXPECTED NEEDS AND AVAILABILITY OF CASH TO PAY HPTS OBLIGATIONS, DISTRIBUTIONS WHICH MAY BE REQUIRED TO BE PAID TO MAINTAIN HPTS TAX STATUS AS A REAL ESTATE INVESTMENT TRUST AND OTHER FACTORS DEEMED RELEVANT BY HPTS BOARD OF TRUSTEES IN THEIR DISCRETION. ACCORDINGLY, FUTURE DIVIDEND RATES MAY BE INCREASED OR DECREASED AND THERE IS NO ASSURANCE AS TO THE RATE AT WHICH FUTURE DIVIDENDS WILL BE PAID. FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON ANY FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE.

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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170113005417/en/

Hospitality Properties Trust Katie Strohacker, 617-796-8232Senior Director, Investor Relationswww.hptreit.com

Source: Hospitality Properties Trust

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