NORFOLK, NE—Lodging REIT Supertel Hospitality, Inc. has declared a fourth-quarter cash dividend of $0.08 per share on its common stock, representing approximately 63 percent of the amount declared in the 2007 fourth quarter. The dividend will be distributed on February 2 to common shareholders of record on December 31. “The board believes it is prudent to take a more conservative approach to our dividend in these highly uncertain times,” said Paul Schulte, chairman, president and CEO of Supertel Hospitality, Inc. “Based on our closing price today, the annualized yield is approximately18 percent.” He added, “This move gives us additional flexibility to respond to opportunities and challenges facing the company and our industry over the short term.” Supertel Hospitality, Inc. specializes in limited-service lodging. The company owns 125 hotels in 24 states.
Previous ArticleHampton VA Gains Crowne Plaza, Hampton Inn
Next Article Developer Forms New Hotel Management Division