Braemar Hotels & Resorts Inc | 8.25% Series D Cumulative Preferred Stock (BHR.PRD)
Prospectus excerpt: We will pay cumulative dividends on the Series D Preferred Stock in the amount of $2.0625 per share each year, which is equivalent to 8.25% of the $25.00 liquidation preference per share. Dividends on the Series D Preferred Stock are payable quarterly in arrears on the 15th day of January, April, July and October of each year (or, if not on a business day, on the next succeeding business day). The first dividend on the Series D Preferred Stock sold in this offering will be paid on January 15, 2019 and will be in the amount of $0.234896 per share.
Braemar Hotels & Resorts invests in hotels and resorts. Co. conducts its business and owns substantially all of its assets through its operating partnership, Braemar Hospitality Limited Partnership. Co. operates in the hotel investment segment of the hotel lodging industry. Co. owns interests in hotel properties in several states, the District of Columbia and St. Thomas, U.S. Virgin Islands, excluding those attributable to its joint venture partner. The hotel properties in Co.'s portfolio are mainly located in U.S. urban and resort locations. Co. owns most of its hotel properties, and the remaining hotel properties through an investment in a majority-owned consolidated joint venture entity.
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