Corepoint lodging expects to suspend stock dividend for balance of 2020

Corepoint lodging inc - provides update on operations and measures to mitigate impact of covid-19.corepoint lodging- expects to suspend stock dividend for balance of 2020, resulting in preservation of about $11 million of cash per quarter.corepoint lodging- proactively made $110 million draw from $150 million revolving credit facility.corepoint lodging- corepoint, along with third-party manager, temporarily suspended operations at 26 of co’s 248 hotels.corepoint lodging- anticipates it may temporarily suspend operations at about 50 additional hotels in next few weeks.corepoint lodging- remaining hotels are currently expected to remain open at reduced operational capacity.corepoint lodging- co, 3rd-party manager pursuing alternative sources of hotel revenue, including from governmental authorities, local organizations.corepoint lodging- unable to forecast whether there will be any impact from covid-19 on timing of, or gross proceeds from, future anticipated asset sales.
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