Ashford Prime Declares First Quarterly Dividend For Fourth Quarter Of 2013 And
Issues Guidance For 2014 Dividends
DALLAS, Dec. 16, 2013
DALLAS, Dec. 16, 2013 /PRNewswire/ --Ashford Hospitality Prime, Inc. (NYSE:
AHP) ("Ashford Prime" or the "Company") announced today that its Board of
Directors declared a quarterly cash dividend of $0.05 per diluted share for
the Company's common stock for the fourth quarter ending December 31, 2013.
The dividend is payable on January 15, 2014, to shareholders of record as of
December 31, 2013.
The Board also approved the Company's dividend policy for 2014. The Company
expects to pay a quarterly cash dividend of $0.05 per share for 2014, or $0.20
per share on an annualized basis. The Company believes a conservative
approach is appropriate given the recent spin-off from Ashford Hospitality
Trust, and the Board will continue to review its dividend policy on a
quarter-to-quarter basis. The adoption of a dividend policy does not commit
the Board of Directors to declare future dividends or the amount thereof.
Ashford Hospitality Prime is a conservatively capitalized real estate
investment trust (REIT) focused on investing in high RevPAR full-service and
urban select-service hotels and resorts located predominantly in domestic and
international gateway markets.
Follow Chairman and CEO Monty Bennett on Twitter at
www.twitter.com/MBennettAshford or @MBennettAshford.
Certain statements and assumptions in this press release contain or are based
upon "forward-looking" information and are being made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and uncertainties. When
we use the words "will likely result," "may," "anticipate," "estimate,"
"should," "expect," "believe," "intend," or similar expressions, we intend to
identify forward-looking statements. Such statements are subject to numerous
assumptions and uncertainties, many of which are outside Ashford Prime's
These forward-looking statements are subject to known and unknown risks and
uncertainties, which could cause actual results to differ materially from
those anticipated, including, without limitation: general volatility of the
capital markets and the market price of our common stock; changes in our
business or investment strategy; availability, terms and deployment of
capital; availability of qualified personnel; changes in our industry and the
market in which we operate, interest rates or the general economy; and the
degree and nature of our competition. These and other risk factors are more
fully discussed in Ashford Prime's filings with the Securities and Exchange
The forward-looking statements included in this press release are only made as
of the date of this press release. Investors should not place undue reliance
on these forward-looking statements. We are not obligated to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or circumstances, changes in expectations or
SOURCE Ashford Hospitality Prime, Inc.
Contact: David Kimichik, Chief Financial Officer, (972) 490-9600; Deric
Eubanks, SVP - Finance, (972) 490-9600; Elise Chittick, Investor Relations,
(972) 778-9487; Scott Eckstein, Financial Relations Board, (212) 827-3766
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