Ryman Hospitality Properties, Inc 8-K, filed Sep 18, 2023
Ryman Hospitality Properties, Inc. (RHP)
About this 8-K
Ryman Hospitality Properties, Inc filed this 8-K on September 18, 2023.
Items reported
- Item 8.01: Other events
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| ITEM 8.01. | OTHER EVENTS. |
On September 18, 2023, Ryman Hospitality Properties, Inc. (the “Company”) declared a cash dividend of $1.00 per common share, to be paid on October 16, 2023 to stockholders of record as of the close of business on September 29, 2023. The Company’s dividend policy provides that the Company will make minimum dividends of 100% of REIT taxable income annually, subject to the board of directors’ future determinations as to the amount of any distributions and the timing thereof. Also on September 18, 2023, one of the Company’s subsidiaries, RHP Hotel Properties, LP (“Hotel Properties”), declared that holders of partnership units (“OP Units”) in Hotel Properties will receive a corresponding cash distribution of $1.00 per OP Unit to be paid on October 16, 2023 to holders of record as of the close of business on September 29, 2023.
The following disclosure is provided for purposes of compliance with rules of the Pension Benefit Guaranty Corporation (“PBGC”) relating to the Company’s frozen defined benefit pension plan, the Retirement Plan for Employees of Ryman Hospitality Properties, Inc. (EIN/PN 73-0664379/001) (the “Plan”). This is the third dividend declared by the Company during this fiscal year and the third distribution declared by Hotel Properties (EIN 46-1000882) during this fiscal year. Under PBGC regulations governing events that must be reported by sponsors and plan administrators of defined benefit pension plans, the declaration of this dividend by the Company and the declaration of the OP Unit distribution by Hotel Properties is each considered to be an “extraordinary dividend” reportable event for the Plan. 29 CFR § 4043.31(a)(1). However, no reportable event notices need to be filed with PBGC for either of these reportable events because, pursuant to 29 CFR § 4043.31(c)(6), reporting is waived due to the inclusion of the foregoing information in this Form 8-K filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| RYMAN HOSPITALITY PROPERTIES, INC. | ||
| Date: September 18, 2023 | By: | /s/ Scott J. Lynn |
| Name: | Scott J. Lynn | |
| Title: | Executive Vice President, General Counsel and Secretary | |