Summit Hotel Properties, Inc. Announces Dividend (United States)
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Summit Hotel Properties, Inc. Announces Dividend (United States)
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Category: North America & West Indies / Carribean islands - United States - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2011-05-05
Summit Hotel Properties, Inc. (NYSE: INN), a real estate investment trust (REIT) specializing in the ownership of premium-branded hotels in the upscale and upper midscale segments, today announced that its Board of Directors declared a cash dividend of $0.05625 per common share for the first quarter ending March 31, 2011. The dividend is payable May 23, 2011 to holders of record as of May 13, 2011.
The dividend of $.05625 represents a dividend payment for the fractional portion of the first quarter of 2011 since the settlement of the company’s Initial Public Offering of February, 14, 2011. The company’s annualized dividend is $0.45 per common share. This fractional quarterly dividend and the annualized dividend represent a current yield of 4.09% based on the May 3, 2011 closing price of $11.00 per share.
About Summit Hotel Properties
Summit Hotel Properties, Inc. is a self-advised real estate investment trust focused on acquiring and owning premium-branded select-service hotels in the upscale and upper midscale segments. As of May 3, 2011, the company’s hotel portfolio consisted of 68 hotels with a total of 6,888 guestrooms located in 19 states.
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