MCLEAN, Va.--(BUSINESS WIRE)--Park Hotels & Resorts Inc. (“Park”) (NYSE:PK), which began “regular way”
public trading on the New York Stock Exchange as an independent company
on January 4, 2017, today announced that its Board of Directors has
approved a quarterly cash dividend of $0.43 per share of common stock
for the first quarter of 2017. The dividend will be payable on April 17,
2017 to each stockholder of record as of the close of business on March
31, 2017.
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations”
Based on the $25.92 closing price of Park’s common shares on February
24, 2017, the dividend level annualized represents a 6.6% yield.
About Park
Park is a leading lodging REIT with a diverse portfolio of hotels and
resorts with significant underlying real estate value. Park’s portfolio
consists of 67 premium-branded hotels and resorts with over 35,000 rooms
located in prime United States and international markets with high
barriers to entry. For further details, please visit Park’s website at www.pkhotelsandresorts.com.
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 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,” “approximately,” “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 Information
Statement on Form 10, filed with the SEC, as such factors may be updated
from time to time in Park’s periodic 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, except as otherwise may be required by law. 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20170227005385/en/
Park Hotels & Resorts Inc.
Ian Weissman
Senior Vice
President, Corporate Strategy
703-584-7441
[email protected]
Source: Park Hotels & Resorts Inc.