DiamondRock to Redeem Series A Preferred Stock

By Ahmed Jameison • Thursday, November 20 15:36 • Permanent Link

DiamondRock Hospitality Company (NYSE: DRH) has announced its plans to redeem all 4,760,000 outstanding shares of its 8.250% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock") on December 31, 2025. The company intends to use approximately $121.5 million in cash to fund the redemption price of $25.00 per share, in addition to accrued and unpaid dividends up to, but not including, the redemption date.

Additionally, the company's board of directors declared a quarterly dividend of $0.515625 per share on its Series A Preferred Stock on November 19, 2025. This dividend is payable on December 31, 2025, to shareholders of record as of December 19, 2025.

Following the redemption date, the Series A Preferred Stock will no longer be outstanding, and dividends will cease to accrue on these securities.

DiamondRock Hospitality Company, a self-advised real estate investment trust (REIT), currently owns 36 premium quality hotels and resorts with approximately 9,600 rooms. For further information on the company and its portfolio, please visit DiamondRock Hospitality Company’s website at www.drhc.com. Following these announcements, the company's shares moved -1.08%, and are now trading at a price of $8.675. For more information, read the company's full 8-K submission here.

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