DiamondRock Redeems 8.250% Preferred Stock

By Tamara Parker • Thursday, November 20 12:05 • Permanent Link

DiamondRock Hospitality Company has announced the redemption of all 4,760,000 outstanding shares of its 8.250% Series A Cumulative Redeemable Preferred Stock on December 31, 2025. The company will utilize approximately $121.5 million of cash on hand 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.

The Board of Directors declared a quarterly dividend of $0.515625 per share on the 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 no longer accrue on these securities. Broadridge Corporate Issuer Solutions, LLC is the company’s redemption agent.

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. As a result of these announcements, the company's shares have moved -1.02% on the market, and are now trading at a price of $8.77. Check out the company's full 8-K submission here.

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