Hospitality Properties Trust (NYSE: HPT) today announced it has raised its regular quarterly common share distribution by $0.02 to $0.47 per common share ($1.88 per share per year). This distribution will be paid to HPT’s common shareholders of record as of the close of business on October 22, 2012 and distributed on or about November 21, 2012.
Hospitality Properties Trust is a real estate investment trust, or REIT, which owns or leases 287 hotels and 185 travel centers located in 44 states, Puerto Rico and Canada. HPT 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 HPT’S 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 HPT’S CONTROL. FOR EXAMPLE, THIS PRESS RELEASE STATES THAT HPT’S DIVIDEND RATE WILL BE $0.47/SHARE PER QUARTER OR $1.88/SHARE PER YEAR. A POSSIBLE IMPLICATION OF THIS STATEMENT IS THAT HPT WILL CONTINUOUSLY PAY QUARTERLY DIVIDENDS OF $0.47/SHARE PER QUARTER OR $1.88/SHARE PER YEAR IN THE FUTURE. HPT’S DIVIDEND RATES ARE SET AND RESET FROM TIME TO TIME BY HPT’S BOARD OF TRUSTEES. THE HPT BOARD CONSIDERS MANY FACTORS WHEN SETTING DIVIDEND RATES INCLUDING HPT’S HISTORICAL AND PROJECTED INCOME, NORMALIZED FUNDS FROM OPERATIONS, THE THEN CURRENT AND EXPECTED NEEDS AND AVAILABILITY OF CASH TO PAY HPT’S OBLIGATIONS, DISTRIBUTIONS WHICH MAY BE REQUIRED TO BE PAID TO MAINTAIN HPT’S TAX STATUS AS A REAL ESTATE INVESTMENT TRUST AND OTHER FACTORS DEEMED RELEVANT BY HPT’S 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.
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