ITEM 7.01 REGULATION FD DISCLOSURE.
On January 10, 2022, Braemar Hotels & Resorts Inc. (the "Company") issued a
press release announcing that its Board of Directors:
a) declared a quarterly cash dividend for the first quarter ending March 31,
2022, of $0.3438 per diluted share, for the Company's 5.5% Series B Cumulative
Convertible Preferred Stock. This dividend is payable on April 15, 2022, to
stockholders of record as of March 31, 2022;
b) declared a quarterly cash dividend for the first quarter ending March 31,
2022, of $0.5156 per diluted share, for the Company's 8.25% Series D Cumulative
Preferred Stock. This dividend is payable on April 15, 2022, to stockholders of
record as of March 31, 2022;
c) declared a monthly cash dividend for the Company's Series E Redeemable
Preferred Stock equal to a quarterly rate of $0.50 per share, payable as
follows: $0.1666 per share will be paid on February 15, 2022 to stockholders of
record as of January 31, 2022; $0.1666 per share will be paid on March 15, 2022
to stockholders of record as of February 28, 2022; and $0.1666 per share will be
paid on April 15, 2022 to stockholders of record as of March 31, 2022; and
d) declared a monthly cash dividend for the Company's Series M Redeemable
Preferred Stock equal to a quarterly rate of $0.5125 per share, payable as
follows: $0.1708 per share will be paid on February 15, 2022 to stockholders of
record as of January 31, 2022; $0.1708 per share will be paid on March 15, 2022
to stockholders of record as of February 28, 2022; and $0.1708 per share will be
paid on April 15, 2022 to stockholders of record as of March 31, 2022.
As of December 31, 2021, there were 1,708,883 shares of the Company's Series E
Redeemable Preferred Stock and 29,044 shares of the Company's Series M
Redeemable Preferred Stock issued and outstanding.
The Board also announced that it plans to continue its suspension of the common
stock dividend into 2022 to protect liquidity and will evaluate future dividend
declarations on a quarterly basis going forward.
A copy of the press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference. The information in this Form 8-K and Exhibits
attached hereto shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, except as shall be
expressly set forth by specific reference in such filing.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
Exhibit
Number Exhibit Description
99.1 Press Release of the Company, dated January 10, 2022, furnished under
Item 7.01, announcing the declaration of dividends
104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in
Exhibit 101)
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