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NASHVILLE, Tenn., Dec. 09, 2022 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties (NYSE: RHP) (the “Company”), today announced that the Company has declared a fourth quarter cash dividend of $0.25 per common share, to be paid on January 17, 2023, to stockholders of record as of December 30, 2022.
“I am pleased to announce our fourth quarter dividend of $0.25 per common share, which has been increased from our third quarter dividend of $0.10 per common share” said Colin Reed, Chairman and Chief Executive Officer of Ryman Hospitality Properties. “We are excited about the long-term trajectory of our business and the impact it will have on our future dividends. As our businesses continue their strong recovery and build upon our achievements this year, which included record levels of quarterly revenue and profitability, our Board of Directors will continue to review our dividend policy and the amount of quarterly dividends.”
About Ryman Hospitality Properties, Inc.
Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and leading entertainment experiences. RHP’s core holdings, Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, are five of the top ten largest non-gaming convention center hotels in the United States based on total indoor meeting space. Our Hospitality segment is comprised of these convention center resorts operating under the Gaylord Hotels brand, along with two adjacent ancillary hotels, which are managed by Marriott International and represent a combined total of 10,412 rooms and more than 2.8 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. RHP also owns a 70% controlling ownership interest in Opry Entertainment Group (OEG), which is composed of entities owning a growing collection of iconic and emerging country music brands, including the Grand Ole Opry, Ryman Auditorium, WSM 650 AM, Ole Red and Circle, a country lifestyle media network RHP owns in a joint venture with Gray Television, Nashville-area attractions managed by Marriott, and Block 21, a mixed-use entertainment, lodging, office and retail complex, including the W Austin Hotel and the ACL Live at Moody Theater, located in downtown Austin, Texas. RHP operates OEG as its Entertainment segment, in a taxable REIT subsidiary, and its results are consolidated in the Company’s financial results. Visit RymanHP.com for more information.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements as to the Company’s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made, including, but not limited to, risks associated with the Company’s ability to pay dividends and the Board of Director’s ability to alter the dividend policy at any time. Other factors that could cause actual results to differ from the Company’s beliefs and expectations as to the outcome of future events are described in the filings made from time to time by the Company with the U.S. Securities and Exchange Commission and include the risk factors and other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and subsequent filings. Except as required by law, 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.
| Investor Relations Contacts: | Media Contacts: |
| Mark Fioravanti, President | Hillary Prim, Vice President of Corporate and Brand Communications |
| Ryman Hospitality Properties, Inc. | Finn Partners |
| (615) 316-6588 | (615) 610-0293 |
| mfioravanti@rymanhp.com | hillary.prim@finnpartners.com |
| ~or~ | ~or~ |
| Jennifer Hutcheson, Chief Financial Officer | Robert Winters |
| Ryman Hospitality Properties, Inc. | Alpha IR Group |
| (615) 316-6320 | (929) 266-6315 |
| jhutcheson@rymanhp.com | robert.winters@alpha-ir.com |
| ~or~ | |
| Todd Siefert, Senior Vice President Corporate Finance & Treasurer | |
| Ryman Hospitality Properties, Inc. | |
| (615) 316-6344 | |
| tsiefert@rymanhp.com |