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Subsequent Events
6 Months Ended
Jun. 30, 2019
Subsequent Events [Abstract]  
Subsequent Events

NOTE 18. SUBSEQUENT EVENTS

 

On May 14, 2019, our board of directors authorized and the Company declared a cash dividend of $0.20 per share of common stock with respect to the second quarter of 2019. The second quarter dividend was paid on July 15, 2019 to stockholders of record as of June 28, 2019.

 

On August 13, 2019, our board of directors authorized and the Company declared a cash dividend of $0.20 per share of common stock with respect to the third quarter of 2019. The third quarter dividend will be paid on October 15, 2019 to stockholders of record as of September 30, 2019.

 

Subsequent to June 30, 2019, the Company sold, in separate transactions, seven hotels for an aggregate gross sales price of $29 million, recognizing a gain on sales of approximately $5 million. The Company used $10 million of the net sales proceeds to pay down the principal of the CMBS Facility.