LaSalle Hotel Properties (NYSE: LHO) today announced that it increased its dividend to $0.11 per common share of beneficial interest for the quarter ending September 30, 2010. The third quarter dividend will be paid on October 15, 2010 to common shareholders of record on September 30, 2010.
"The Board and management believe increasing the dividend to this level is appropriate at this time," stated Michael D. Barnello, President and Chief Executive Officer of LaSalle Hotel Properties. "Our balance sheet is strong and the portfolio continues to generate significant cash flow."
