Choice Hotels International Increases Dividend 13 Percent
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Choice Hotels International Increases Dividend 13 Percent
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Category: Worldwide
This is a press release selected by our editorial committee and published online for free on 2007-09-19
Choice Hotels International (NYSE: CHH) today announced that its Board of Directors has approved a 13 percent increase in the company's quarterly cash dividend on the company's common stock from $0.15 to $0.17 per share, effective with the dividend payable on October 19, 2007, to shareholders of record on October 5, 2007. The increase will result in an annual dividend of $0.68 per share, which is a 13 percent increase from the previous dividend per share of $0.60 per annum.
"For the fourth year in a row, we've been able to increase our quarterly dividend, which we view as a key element of building long-term shareholder value," said Charles A. Ledsinger, Jr., vice chairman and chief executive officer, Choice Hotels International.
"We remain confident in our long-term growth prospects based upon our mix of new and established brands, continued financial strength, and successful, proven business model."
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