Ryman Hospitality Properties, Inc. Declares Third Quarter Dividend
Ryman Hospitality Properties, Inc. (NYSE:RHP) today announced that its Board of Directors declared a cash dividend of $0.55 per share of common stock payable on October 15, 2014 to stockholders of record on October 2, 2014.
As a result of the declaration of the dividend, effective immediately after the close of business on September 30, 2014, pursuant to customary anti-dilution adjustments, the exercise price of the common stock warrants we issued related to the Company’s outstanding 3.75 percent convertible notes due 2014 will be adjusted to preserve the economic benefit to the warrant holders. There will be no adjustment to the conversion rate of the Company’s outstanding 3.75 percent convertible notes, which mature prior to the dividend record date, and no adjustment to the strike price of the related call options.
About Ryman Hospitality Properties, Inc.
Ryman Hospitality Properties, Inc. (NYSE:RHP) , is a real estate investment trust for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company’s owned assets include a network of four upscale, meetings-focused resorts totaling 7,795 rooms that are managed by world-class lodging operator Marriott International, Inc. under the Gaylord Hotels brand. Other owned assets managed by Marriott International, Inc. include Gaylord Springs Golf Links, the Wildhorse Saloon, the General Jackson Showboat and the Inn at Opryland, a 303-room overflow hotel adjacent to Gaylord Opryland. The Company also owns and operates a number of media and entertainment assets, including the Grand Ole Opry (opry.com), the legendary weekly showcase of country music’s finest performers for nearly 90 years; the Ryman Auditorium, the storied former home of the Grand Ole Opry located in downtown Nashville; and WSM-AM, the Opry’s radio home. For additional information about Ryman Hospitality Properties, visit www.rymanhp.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” concerning the Company’s expectations, future results and underlying assumptions, and other statements that are not necessarily based on historical facts. An example is the statement concerning the payment of dividends. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include the risks and uncertainties described in the filings made from time to time by the Company with the U.S. Securities and Exchange Commission, including the risk factors described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and subsequent Quarterly Reports on Form 10-Q. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.
Sorry. No data so far.