Summit Hotel Properties Announces Fourth Quarter Dividend

AUSTIN, Texas, Jan. 23, 2025 /PRNewswire/ — Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”), announced today that its Board of Directors has authorized, and the Company has declared, a cash dividend for the fourth quarter ended December 31, 2024, of $0.08 per share of common stock of the Company and per common unit of limited partnership interest in Summit Hotel OP, LP, the Company’s operating partnership. The Company’s fourth quarter common dividend represents an annualized dividend yield of 4.8 percent based on the closing price of shares of the common stock on January 22, 2025.

This announcement highlights the company’s commitment to rewarding its shareholders and investors. The decision to declare a cash dividend demonstrates the company’s confidence in its financial performance and outlook for the future.

Impact on Individuals

For individual investors who hold shares of Summit Hotel Properties, this dividend payout is a welcomed source of additional income. The 4.8 percent annualized dividend yield provides investors with a steady return on their investment, which can be reinvested or used as supplemental income.

Impact on the World

Although a dividend announcement may seem like a small event in the grand scheme of things, it reflects the strength and stability of Summit Hotel Properties as a company. By rewarding its shareholders, the company is able to attract and retain investors, which in turn allows it to continue growing and expanding its operations. This growth can have a positive ripple effect on the economy and the world at large.

Conclusion

In conclusion, Summit Hotel Properties’ decision to declare a cash dividend for the fourth quarter of 2024 is a testament to the company’s financial health and long-term outlook. This announcement not only benefits individual investors but also contributes to the overall growth and stability of the company, which can have a positive impact on the world as a whole.