FelCor Declares Dividends for Second Quarter
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FelCor Declares Dividends for Second Quarter
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Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on 2007-07-02
Raises Common Dividend
FelCor Lodging Trust Incorporated (NYSE: FCH) today declared its second quarter dividends. FelCor will pay a dividend of $0.30 per share on its Common Stock, which reflects a $0.05 increase from the prior quarter.
FelCor will also pay $0.4875 per share on its $1.95 Series A Cumulative Convertible Preferred Stock and $0.50 per depositary share evidencing its 8% Series C Cumulative Redeemable Preferred Stock. The second quarter dividends will each be payable on July 31, 2007, to stockholders of record on July 13, 2007.
FelCor, a real estate investment trust, is the nation's largest owner of upper upscale, all-suite hotels. FelCor's portfolio is comprised of 83 consolidated hotels, located in 23 states and Canada. FelCor's portfolio includes 65 upper upscale hotels, and FelCor is the largest owner of Embassy Suites Hotels(R) and Doubletree Guest Suites(R) hotels. FelCor's hotels are flagged under global brands such as Embassy Suites Hotels, Doubletree(R), Hilton(R), Sheraton(R), Westin(R) and Holiday Inn(R). FelCor has a current enterprise value of approximately $3.5 billion.
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