Host Hotels temporarily suspends dividends amid COVID-19 uncertainty

Jun. 19, 2020 4:24 PM ETHost Hotels & Resorts, Inc. (HST)HSTBy: Liz Kiesche, SA News Editor5 Comments
  • Host Hotels & Resorts (NYSE:HST) suspends its quarterly dividend starting with Q2, a move that it expects to preserve ~$140M in cash during the quarter as it deals with the fallout from the coronavirus pandemic.
  • "The board’s decision to suspend the quarterly dividend is consistent with the other measures the company has implemented to preserve liquidity and maintain balance sheet flexibility, including reducing capital expenditures by $100M to $125M and corporate expenses by 10% to 15%," said President and CEO James F. Risoleo.
  • The board will monitor Host's financial performance and operating environment to decide when to reinstate the dividend, he said.
  • Previously: Host Hotels sees some green shoots (June 2)

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