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Braemar Hotels & Resorts, 8.25% Series D Cumulative Preferred Stock
Ticker Symbol: BHR-D CUSIP: 10482B309 Exchange: NYSE
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Braemar Hotels & Resorts, Inc., 8.25% Series D Cumulative Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 11/20/2023 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.25% per annum ($2.0625 per annum or $0.515625 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be 3/31, 6/30, 9/30 & 12/31 respectively (NOTE: the ex-dividend date is one business day prior to the record date). Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will NOT have the following conversion right. Upon the occurrence of a change of control, and the company has NOT provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (BHR)
Notes: 1/24/2020 -- From the company's news release. In accordance with IRS Code Section 6045B, the Company will post Form 8937, Report of Organizational Actions Affecting Basis of Securities, which may be found in the Corporate Actions section of the company's website (which I could not find on 2/14/2020) . This form provides detailed information on the return of capital portion of the preferred and common share distributions. The Company encourages shareholders to consult with their own tax advisors with respect to the federal, state and local, and foreign income tax effects of these dividends. ALL PREFERRED DISTRIBUTIONS ARE CURRENTLY BEING REPORTED AS RETURN OF CAPITAL AND APPARENTLY SHOULD BE DEDUCTED FROM YOUR INVESTMENT COST BASIS.
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IPO - 11/13/2018 - 1.60 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: BHRPP Changed: 11/30/2018
Market Value $40.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 14185 Dallas Parkway, Suite 1100, Dallas, TX 75254 |
| Main Phone Number |
972-490-9600 |
| Fax Number |
972-490-9605 |
| Investor Relations
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972-778-9487
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Toll Free Phone Number |
Unknown |
| CEO - Richard J. Stockton |
CFO - Deric S. Eubanks |
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