DALLAS, April 12, 2022 /PRNewswire/ -- Ashford Inc. (NYSE
American: AINC) ("Ashford" or the "Company") today announced that
its Board of Directors declared cash dividends for the Company's
Series D Convertible Preferred Stock ("Preferred Stock") reflecting
accrued and unpaid dividends for the quarters ending June 30, 2020 and December
31, 2020. The Company will pay an aggregate cash
dividend of $0.932 per share of
Preferred Stock, representing approximately 50% of the accrued
dividends. The Preferred Stock dividends will be paid on
April 15, 2022.
"Our business and advised platforms continue to benefit from the
recovery in the lodging industry, and we're pleased to be in a
position to pay half of our accrued preferred dividends," commented
Monty J. Bennett, Ashford's Chairman
and Chief Executive Officer. "We remain excited about the future
prospects for the Company and, contingent on the pace of the
continued recovery, hope to be in a position to pay the remaining
accrued preferred dividends sometime during 2023."
Ashford is an alternative asset management company with a
portfolio of strategic operating businesses that provides global
asset management, investment management and related services to the
real estate and hospitality sectors.
Forward-Looking Statements
Certain statements and assumptions in this press release
contain or are based upon "forward-looking" information and are
being made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements in this press release include, among others, statements
about the Company's strategy and future plans. These
forward-looking statements are subject to risks and uncertainties.
When we use the words "will likely result," "may," "anticipate,"
"estimate," "should," "expect," "believe," "intend," or similar
expressions, we intend to identify forward-looking statements. Such
statements are subject to numerous assumptions and uncertainties,
many of which are outside Ashford Inc.'s control.
These forward-looking statements are subject to known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those anticipated, including, without
limitation: the impact of COVID-19, including one or more possible
recurrences of COVID-19 case surges that would cause state and
local governments to reinstate travel restrictions and the rate of
adoption and efficacy of vaccines to prevent COVID-19, on our
business and investment strategy; our ability to maintain
compliance with NYSE American LLC continued listing standards; our
ability to regain Form S-3 eligibility; our ability to repay,
refinance or restructure our debt and the debt of certain of our
subsidiaries; anticipated or expected purchases or sales of assets;
our projected operating results; completion of any pending
transactions; our understanding of our competition; market trends;
projected capital expenditures; the impact of technology on our
operations and business; general volatility of the capital markets
and the market price of our common stock and preferred stock;
availability, terms and deployment of capital; availability of
qualified personnel; changes in our industry and the markets in
which we operate, interest rates or the general economy; and the
degree and nature of our competition. These and other risk factors
are more fully discussed in the Company's filings with the
Securities and Exchange Commission.
The forward-looking statements included in this press release
are only made as of the date of this press release. Such
forward-looking statements are based on our beliefs, assumptions,
and expectations of our future performance taking into account all
information currently known to us. These beliefs, assumptions, and
expectations can change as a result of many potential events or
factors, not all of which are known to us. If a change occurs, our
business, financial condition, liquidity, results of operations,
plans, and other objectives may vary materially from those
expressed in our forward-looking statements. You should carefully
consider this risk when you make an investment decision concerning
our securities. Investors should not place undue reliance on these
forward-looking statements. The Company can give no assurance that
these forward-looking statements will be attained or that any
deviation will not occur. We are not obligated to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or circumstances, changes in
expectations, or otherwise, except to the extent required by
law.
View original
content:https://www.prnewswire.com/news-releases/ashford-declares-payment-of-half-of-the-companys-accrued-preferred-dividends-301524297.html
SOURCE Ashford Inc.