SUMMIT HOTEL PROPERTIES DECLARES THIRD QUARTER 2024 DIVIDENDS

Core Viewpoint - Summit Hotel Properties, Inc. has declared cash dividends for the third quarter of 2024, reflecting a commitment to returning value to shareholders through consistent dividend payments [1][2]. Dividend Announcements - The Company has declared a cash dividend of $0.08 per share for the third quarter ended September 30, 2024, which corresponds to an annualized dividend yield of 5.2% based on the closing stock price on October 23, 2024 [1]. - Additionally, the Company announced a cash dividend of $0.390625 per share for its 6.25% Series E Cumulative Redeemable Preferred Stock and $0.3671875 per share for its 5.875% Series F Cumulative Redeemable Preferred Stock, both for the dividend period ending on November 30, 2024 [1][2]. - The operating partnership will distribute $0.328125 per unit for its unregistered 5.25% Series Z Cumulative Perpetual Preferred Units for the same distribution period [2]. Company Overview - Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused on owning premium-branded lodging properties, primarily in the Upscale segment of the lodging industry [3]. - As of September 30, 2024, the Company's portfolio includes 96 assets, with 54 wholly owned properties and a total of 14,255 guestrooms located across 24 states [3].