Park Hotels & Resorts pays $0.40 special dividend in 2024
Park Hotels & Resorts (PK) will pay a special dividend of $0.40 per share. The regular quarterly dividend is $0.25 per share and yields 6.4%. PK is known for its annual special dividend payments.
Park Hotels & Resorts Inc. announced today that the Company has declared a fourth quarter dividend of $0.65 per share of common stock which includes Park’s regular quarterly dividend of $0.25 coupled with a $0.40 top off dividend based on 2024 operating results. The special dividend will be paid in cash on January 15, 2025 to stockholders of record as of December 31, 2024.
The fourth quarter dividend, together with the regular cash dividends declared for the first three quarters of 2024, represent an annual yield of 9.0% based on the closing stock price as of November 25, 2024. At a stock price of $15.55 the regular annual dividend yield is 6.4% for PK. The company also paid special dividends in both 2023 and 2022 with two additional payments in 2023.
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| PK stock dropped below $5 in 2020 (covid pandemic) |
In total, Park will have returned $375 million of capital to shareholders in 2024 when considering the approximately $290 million in cumulative dividend payments, and over $85 million of share repurchases for nearly 6 million shares executed throughout the year including approximately $26 million of stock repurchased quarter-to-date.
Other stocks announcing a special dividend recently include Dillard's (DDS) with a big $25.00 per share special payment and Amkor Technology (AMKR) with a much smaller 40 cent per share extra payment.
