Item 7.01. Regulation FD Disclosure.
On June 15, 2022, Pebblebrook Hotel Trust (the "Company") issued a press release
announcing that its Board of Trustees (the "Board") has authorized, and the
Company has declared cash dividends per share of its common and preferred shares
of beneficial interest.
A copy of the press release is furnished as Exhibit 99.1 to this report and is
incorporated by reference herein.
Item 8.01. Other Events.
On June 15, 2022, the Board declared a dividend of $0.01 per share on the
Company's common shares of beneficial interest, $0.01 par value per share
("Common Shares"), for the quarter ending June 30, 2022 (the "Common Dividend").
On June 15, 2022, the Board also declared a quarterly dividend of $0.39844 per
share on the Company's 6.375% Series E Cumulative Redeemable Preferred Shares of
Beneficial Interest, $0.01 par value per share ("Series E Preferred Shares"),
for the quarter ending June 30, 2022 (the "Series E Preferred Dividend").
On June 15, 2022, the Board also declared a quarterly dividend of $0.39375 per
share on the Company's 6.30% Series F Cumulative Redeemable Preferred Shares of
Beneficial Interest, $0.01 par value per share ("Series F Preferred Shares"),
for the quarter ending June 30, 2022 (the "Series F Preferred Dividend").
On June 15, 2022, the Board also declared a quarterly dividend of $0.39844 per
share on the Company's 6.375% Series G Cumulative Redeemable Preferred Shares of
Beneficial Interest, $0.01 par value per share ("Series G Preferred Shares"),
for the quarter ending June 30, 2022 (the "Series G Preferred Dividend").
On June 15, 2022, the Board also declared a quarterly dividend of $0.35625 per
share on the Company's 5.70% Series H Cumulative Redeemable Preferred Shares of
Beneficial Interest, $0.01 par value per share ("Series H Preferred Shares"),
for the quarter ending June 30, 2022 (the "Series H Preferred Dividend").
The Common Dividend is payable on July 15, 2022 to holders of record of Common
Shares as of the close of business on June 30, 2022 (the "Record Date").
The Series E Preferred Dividend is payable on July 15, 2022 to holders of record
of Series E Preferred Shares as of the Record Date. The Series E Preferred
Dividend represents a rate of 6.375% per annum of the $25 per share liquidation
preference (equivalent to $1.59375 per annum per share).
The Series F Preferred Dividend is payable on July 15, 2022 to holders of record
of Series F Preferred Shares as of the Record Date. The Series F Preferred
Dividend represents a rate of 6.30% per annum of the $25 per share liquidation
preference (equivalent to $1.575 per annum per share).
The Series G Preferred Dividend is payable on July 15, 2022 to holders of record
of Series G Preferred Shares as of the Record Date. The Series G Preferred
Dividend represents a rate of 6.375% per annum of the $25 per share liquidation
preference (equivalent to $1.59375 per annum per share).
The Series H Preferred Dividend is payable on July 15, 2022 to holders of record
of Series H Preferred Shares as of the Record Date. The Series H Preferred
Dividend represents a rate of 5.70% per annum of the $25 per share liquidation
preference (equivalent to $1.425 per annum per share).
This Current Report on Form 8-K contains statements that are "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Act of 1934, as amended, pursuant to
the safe harbor provisions of the Private Securities Reform Act of 1995. These
forward-looking statements relate to the payment of the dividends.
Forward-looking statements are based on certain assumptions and can include
future expectations, future plans and strategies, financial and operating
projections or other forward-looking information.
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These forward-looking statements are subject to various risks and uncertainties,
not all of which are known to the Company and many of which are beyond the
Company's control, which could cause actual results to differ materially from
such statements. These risks and uncertainties include, but are not limited to,
the state of the U.S. economy, supply and demand in the hotel industry and other
factors as are described in greater detail in the Company's filings with the
United States Securities and Exchange Commission (the "SEC"), including, without
limitation, the Company's Annual Report on Form 10-K for the year ended
December 31, 2021. Unless legally required, the Company disclaims any obligation
to update any forward-looking statements, whether as a result of new
information, future events or otherwise.
For further information about the Company's business and financial results,
please refer to the "Management's Discussion and Analysis of Financial Condition
and Results of Operations" and "Risk Factors" sections of the Company's SEC
filings, including, but not limited to, its Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q, copies of which may be obtained at the Investor
Relations section of the Company's website at www.pebblebrookhotels.com.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press release, dated June 15, 2022, regarding the dividends declaration.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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