Host Hotels & Resorts announces quarterly dividends on common and preferred stock
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Host Hotels & Resorts announces quarterly dividends on common and preferred stock
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Category: Worldwide - Industry economy
- Trends / Expert's advice
This is a press release selected by our editorial committee and published online for free on 2008-12-17
Host Hotels & Resorts, Inc. (NYSE:HST) today announced that its Board of Directors authorized a regular quarterly cash dividend of $0.05 per share on the Company’s common stock, a reduction of $0.15 from its prior regular quarterly cash dividend. The reduction in the dividend reflects the weak fourth quarter operating environment, which the Company expects will continue into 2009, and the Company’s desire to conserve cash in the midst of an uncertain and challenging economic environment. The dividend is payable on January 15, 2009 to stockholders of record on December 31, 2008. The Company will provide an update on its business outlook and the amount of future common dividends in its fourth quarter earnings press release in February.
The Company also declared a cash dividend of $0.5546875 per share on its Class E cumulative redeemable preferred stock for the fourth quarter of 2008. The preferred dividend is payable on January 15, 2009 to stockholders of record on December 31, 2008.
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