Market Newsdesk

DALLAS
, April 10, 2025 /PRNewswire/ — Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) announced today that its Board of Directors (the “Board”) declared a dividend of $0.5281 per diluted share for the Company’s 8.45% Series D Cumulative Preferred Stock for the second quarter ending June 30, 2025. The dividend is payable on July 15, 2025, to stockholders of record as of June 30, 2025.

The Board declared a dividend of $0.4609 per diluted share for the Company’s 7.375% Series F Cumulative Preferred Stock for the second quarter ending June 30, 2025.  The dividend is payable on July 15, 2025, to stockholders of record as of June 30, 2025.

The Board declared a dividend of $0.4609 per diluted share for the Company’s 7.375% Series G Cumulative Preferred Stock for the second quarter ending June 30, 2025.  The dividend is payable on July 15, 2025, to stockholders of record as of June 30, 2025.

The Board declared a dividend of $0.46875 per diluted share for the Company’s 7.50% Series H Cumulative Preferred Stock for the second quarter ending June 30, 2025.  The dividend is payable on July 15, 2025, to stockholders of record as of June 30, 2025.

The Board declared a dividend of $0.46875 per diluted share for the Company’s 7.50% Series I Cumulative Preferred Stock for the second quarter ending June 30, 2025. The dividend is payable on July 15, 2025, to stockholders of record as of June 30, 2025.

The Board declared a monthly cash dividend for all CUSIPs of the Company’s Series J Redeemable Preferred Stock payable as follows: $0.16667 per share will be paid on May 15, 2025 to stockholders of record as of April 30, 2025; $0.16667 per share will be paid on June 16, 2025 to stockholders of record as of May 30, 2025; and $0.16667 per share will be paid on July 15, 2025 to stockholders of record as of June 30, 2025.

The Board declared a monthly cash dividend for CUSIPs 04410D867, 04410D792 and 04410D727 of the Company’s Series K Redeemable Preferred Stock payable as follows: $0.17500 per share will be paid on May 15, 2025 to stockholders of record as of April 30, 2025; $0.17500 per share will be paid on June 16, 2025 to stockholders of record as of May 30, 2025; and $0.17500 per share will be paid on July 15, 2025 to stockholders of record as of June 30, 2025.

The Board declared a monthly cash dividend for CUSIPs 04410D651, 04410D578, 04410D511 and 04410D438 of the Company’s Series K Redeemable Preferred Stock payable as follows: $0.17292 per share will be paid on May 15, 2025 to stockholders of record as of April 30, 2025; $0.17292 per share will be paid on June 16, 2025 to stockholders of record as of May 30, 2025; and $0.17292 per share will be paid on July 15, 2025 to stockholders of record as of June 30, 2025.

The Board declared a monthly cash dividend for all remaining CUSIPs of the Company’s Series K Redeemable Preferred Stock payable as follows: $0.17083 per share will be paid on May 15, 2025 to stockholders of record as of April 30, 2025; $0.17083 per share will be paid on June 16, 2025 to stockholders of record as of May 30, 2025; and $0.17083 per share will be paid on July 15, 2025 to stockholders of record as of June 30, 2025.

As of March 31, 2025, there were 7,677,717 shares of the Company’s Series J Redeemable Preferred Stock and 759,086 shares of the Company’s Series K Redeemable Preferred Stock issued and outstanding.

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.

Forward-Looking Statements

Certain statements and assumptions in this press release contain or are based upon “forward-looking” information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, among others, statements about the Company’s strategy and future plans. These forward-looking statements are subject to risks and uncertainties. When we use the words “will likely result,” “may,” “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Ashford Trust’s control.

These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: our ability to repay, refinance, or restructure our debt and the debt of certain of our subsidiaries; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; risks associated with our ability to effectuate our dividend policy, including factors such as operating results and the economic outlook influencing our board’s decision whether to pay further dividends at levels previously disclosed or to use available cash to pay dividends; our understanding of our competition; market trends; projected capital expenditures; the impact of technology on our operations and business; general volatility of the capital markets and the market price of our common stock and preferred stock; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other risk factors are more fully discussed in Ashford Trust’s filings with the Securities and Exchange Commission.

The forward-looking statements included in this press release are only made as of the date of this press release. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider these risks when you make an investment decision concerning our securities. Investors should not place undue reliance on these forward-looking statements. The Company can give no assurance that these forward-looking statements will be attained or that any deviation will not occur. We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations, or otherwise, except to the extent required by law.

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SOURCE Ashford Hospitality Trust, Inc.

DALLAS
, April 10, 2025 /PRNewswire/ — Braemar Hotels & Resorts Inc. (NYSE: BHR) (“Braemar” or the “Company”) announced today that its Board of Directors (the “Board”) declared a quarterly cash dividend of $0.05 per diluted share for the Company’s common stock for the second quarter ending June 30, 2025. This dividend, which equates to an annual rate of $0.20 per share, is payable on July 15, 2025, to stockholders of record as of June 30, 2025.

The Board declared a quarterly cash dividend for the second quarter ending June 30, 2025, of $0.3438 per diluted share, for the Company’s 5.5% Series B Cumulative Convertible Preferred Stock. This dividend is payable on July 15, 2025, to stockholders of record as of June 30, 2025.

The Board declared a quarterly cash dividend for the second quarter ending June 30, 2025, of $0.5156 per diluted share, for the Company’s 8.25% Series D Cumulative Preferred Stock. This dividend is payable on July 15, 2025, to stockholders of record as of June 30, 2025.

The Board declared a monthly cash dividend for all CUSIPs of the Company’s Series E Redeemable Preferred Stock, payable as follows: $0.15625 per share will be paid on May 15, 2025, to stockholders of record as of April 30, 2025; $0.15625 per share will be paid on June 16, 2025 to stockholders of record as of May 30, 2025; and $0.15625 per share will be paid on July 15, 2025 to stockholders of record as of June 30, 2025.

The Board declared a monthly cash dividend for CUSIPs 10482B705, 10482B887, 10482B796, and 10482B861 of the Company’s Series M Redeemable Preferred Stock payable as follows: $0.17708 per share will be paid on May 15, 2025 to stockholders of record as of April 30, 2025; $0.17708 per share will be paid on June 16, 2025 to stockholders of record as of May 30, 2025; and $0.17708 per share will be paid on July 15, 2025 to stockholders of record as of June 30, 2025.

The Board declared a monthly cash dividend for all remaining CUSIPs of the Company’s Series M Redeemable Preferred Stock payable as follows: $0.17500 per share will be paid on May 15, 2025 to stockholders of record as of April 30, 2025; $0.17500 per share will be paid on June 16, 2025 to stockholders of record as of May 30, 2025; and $0.17500 per share will be paid on July 15, 2025 to stockholders of record as of June 30, 2025.

As of March 31, 2025, there were 13,909,632 shares of the Company’s Series E Redeemable Preferred Stock and 1,459,040 shares of the Company’s Series M Redeemable Preferred Stock issued and outstanding.

Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts.

Forward-Looking Statements

Certain statements and assumptions in this press release contain or are based upon “forward-looking” information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, among others, statements about the Company’s strategy and future plans. These forward-looking statements are subject to risks and uncertainties. When we use the words “will likely result,” “may,” “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Braemar’s control.

These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: our ability to repay, refinance or restructure our debt and the debt of certain of our subsidiaries; anticipated or expected purchases or sales of assets; our projected operating results; completion of any pending transactions; risks associated with our ability to effectuate our dividend policy, including factors such as operating results and the economic outlook influencing our board’s decision whether to pay further dividends at levels previously disclosed or to use available cash to pay dividends; our understanding of our competition; market trends; projected capital expenditures; the impact of technology on our operations and business; general volatility of the capital markets and the market price of our common stock and preferred stock; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other risk factors are more fully discussed in Braemar’s filings with the Securities and Exchange Commission.

The forward-looking statements included in this press release are only made as of the date of this press release. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. Investors should not place undue reliance on these forward-looking statements. The Company can give no assurance that these forward-looking statements will be attained or that any deviation will not occur. We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations, or otherwise, except to the extent required by law.

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SOURCE Braemar Hotels & Resorts, Inc.

INDIANAPOLIS
, April 10, 2025 /PRNewswire/ — Allison Transmission (ALSN), a leading designer and manufacturer of commercial and defense vehicle propulsion solutions, announces the appointment of Scott Mell as its new Chief Financial Officer (CFO) and Treasurer, effective April 14, 2025. This announcement follows the June 2024 appointment of Fred Bohley to Chief Operating Officer (COO), who continued to serve as CFO and Treasurer while the company sought a successor.

Scott is a seasoned business executive with almost 30 years of diverse experience providing strategic and financial leadership and enhancing value in organizations undergoing change. His international experience includes extensive involvement with operations in Asia, Europe and South America. Scott has an established and impressive track record of building consensus with stakeholders of all types, facilitating timely solutions with positive results. His responsibilities frequently included complex and multifaceted opportunities and challenges, and Scott is a proven leader in diverse end markets conditions.

“We are pleased to welcome Scott Mell to the Allison Transmission team,” said David Graziosi, Chair and CEO of Allison Transmission. “His international experience as well as his extensive financial and operational expertise will be instrumental as we continue to drive growth and innovation.”

In his role as CFO, Scott will have responsibility for the Finance organization and will oversee all aspects of the company’s financial management and activities, including financial planning, budgeting, financial reporting, analysis, and compliance with regulations. He will also set our overall treasury strategy, including cash management, risk management and investor relations. In addition, Scott will play a key role in helping to strategically guide Allison through the next phase of our growth and development.

“I am thrilled to join Allison Transmission and contribute to its continued success. The company’s innovative solutions and commitment to excellence are truly inspiring. I look forward to working with the global Allison Transmission team to drive financial performance, deliver strategic growth initiatives and enhance shareholder value,” said Scott Mell.

About Scott Mell

Scott A. Mell is a seasoned business executive with extensive financial and operational leadership experience. He has held various high-level positions, most recently serving as Chief Financial Officer at TriMas Corporation. Scott also worked as Managing Director of Recovery & Transformation Services for Riveron Consulting LLC and in a variety of senior leadership positions with Ernst & Young LLP, McKinsey & Company and AlixPartners, LLP. He holds a Bachelor of Business Administration from James Madison University.

About Allison Transmission

Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of propulsion solutions for commercial and defense vehicles and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway vehicles (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining, construction and agriculture applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has approximately 1,600 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.

Forward-Looking Statements
This press release contains forward-looking statements. The words “believe,” “expect,” “anticipate,” “intend,” “estimate” and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. You should not place undue reliance on these forward-looking statements. Although forward-looking statements reflect management’s good faith beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date the statements are made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise. These forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to: our participation in markets that are competitive; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments, competitive threats and changing customer needs, including with respect to electric hybrid and fully electric commercial vehicles; increases in cost, disruption of supply or shortage of labor, freight, raw materials, energy or components used to manufacture or transport our products or those of our customers or suppliers, including as a result of geopolitical risks, wars and pandemics; global economic volatility; general economic and industry conditions, including the risk of recession; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers or suppliers; the highly cyclical industries in which certain of our end users operate; uncertainty in the global regulatory and business environments in which we operate; the concentration of our net sales in our top five customers and the loss of any one of these; the failure of markets outside North America to increase adoption of fully automatic transmissions; the success of our research and development efforts, the outcome of which is uncertain; U.S. and foreign defense spending; risks associated with our international operations, including acts of war and increased trade protectionism; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; our ability to identify, consummate and effectively integrate acquisitions and collaborations; risks related to our indebtedness; and other risks and uncertainties associated with our business described in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information is as of the date of this press release, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations and risks related to our indebtedness.

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SOURCE Allison Transmission, Inc.

CINCINNATI
, April 10, 2025 /PRNewswire/ — The E.W. Scripps Company (NASDAQ: SSP) has successfully completed a series of previously announced refinancing transactions, which include:

• Refinance of approximately $110.8 million aggregate principal amount of existing tranche B-2 term loans with new tranche B-2 term loans due 2028, with remaining existing tranche B-2 term loans repaid in cash, including with proceeds from a new accounts receivable securitization facility, approximately $223.5 million of proceeds from new tranche B-2 term loans funded by certain participating lenders and cash on hand (including from drawings under our revolving credit facilities);
• Refinance of approximately $540.2 million (99.8%) aggregate principal amount of existing tranche B-3 term loans with $200 million new tranche B-2 term loans due 2028 and $340.2 million new tranche B-3 term loans due 2029, with remaining existing tranche B-3 term loans repaid in cash with cash on hand (including from drawings under our revolving credit facilities);
• Replacement of the existing revolving credit facility with a new revolving credit facility with aggregate commitments of up to $208 million due July 2027 and another new non-extended revolving credit facility with aggregate commitments of up to $70 million due January 2026; and
• Entrance into a new accounts receivable securitization facility with aggregate commitments of up to $450 million.

As a result of the transactions:

• No existing B-2 term loans, existing B-3 term loans or existing revolving commitments remain outstanding;
• Scripps has $545.2 million aggregate principal amount of new tranche B-2 term loans outstanding and $340.2 million aggregate principal amount of new tranche B-3 term loans outstanding; and
• Scripps will have total aggregate revolving commitments of up to $278 million, inclusive of the new non-extended revolving credit facility set forth above.

The completion of the transactions strengthens the balance sheet by extending maturities and providing the company flexibility to continue execution of key strategic initiatives.

The company will file a Form 8-K with the Securities and Exchange Commission that will contain further details regarding the completion of the transactions. The foregoing descriptions of the transactions do not purport to be complete and are qualified in their entirety by reference to the Form 8-K and exhibits thereto.

Simpson Thacher & Bartlett LLP served as counsel and Perella Weinberg Partners served as financial advisor to the company. Davis Polk & Wardwell LLP served as counsel and Moelis & Company LLC served as exclusive financial advisor and investment banker to an ad hoc group of certain of existing B-2 and B-3 lenders. Cahill Gordon & Reindel LLP acted as counsel to JPMorgan Chase Bank, N.A., as administrative agent for the new credit facilities and left lead arranger with respect to the new revolving credit facility. Mayer Brown LLP served as counsel to PNC Bank, National Association, as administrative agent and a lender with respect to the new accounts receivable securitization facility. Orrick Herrington & Sutcliffe LLP served as counsel to KKR Credit Advisors (US) LLC, on behalf of itself, certain of its affiliates and its or their managed funds and accounts, as a lender with respect to the new accounts receivable securitization facility.

This press release is not intended to be, and does not constitute, an offer to sell, buy or subscribe for any securities or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. In particular, this communication is not an offer of securities for sale into the United States or any other jurisdiction. No offer of securities shall be made absent registration under the Securities Act of 1933, as amended, or pursuant to an exemption from, or in a transaction not subject to, such registration requirements.

Forward-looking statements

This document contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “believe,” “anticipate,” “intend,” “expect,” “estimate,” “could,” “should,” “outlook,” “guidance,” and similar references to future periods. Examples of forward-looking statements include, among others, statements the company makes regarding expected operating results and future financial condition. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of the industry and the economy, the company’s plans and strategies, anticipated events and trends, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, and changes in circumstance that are difficult to predict and many of which are outside of the company’s control. The company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: change in advertising demand, fragmentation of audiences, loss of affiliation agreements, loss of distribution revenue, increase in programming costs, changes in law and regulation, the company’s ability to identify and consummate strategic transactions, the controlled ownership structure of the company, and the company’s ability to manage its outstanding debt obligations. These statements include, but are not limited to, the company’s ability to realize the intended benefits of the refinancing transactions described above.

A detailed discussion of such risks and uncertainties is included in the company’s Form 10-K, on file with the SEC, in the section titled “Risk Factors.” Any forward-looking statement made in this document is based only on currently available information and speaks only as of the date on which it is made. The company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.

Media contact:
Becca McCarter, The E.W. Scripps Company, (513) 410-2425, [email protected]
Investor contact: Carolyn Micheli, The E.W. Scripps Company, (513) 313-5910, [email protected]

About Scripps

The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating connection. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlets Scripps News and Court TV and popular entertainment brands ION, ION Plus, ION Mystery, Bounce, Grit and Laff. Scripps is the nation’s largest holder of broadcast spectrum. Its Scripps Sports division serves professional and college sports leagues, conferences and teams with local market depth and national broadcast reach of up to 100% of TV households. Founded in 1878, Scripps is the steward of the Scripps National Spelling Bee, and its longtime motto is: “Give light and the people will find their own way.”

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SOURCE The E.W. Scripps Company