DiamondRock Maintains Steady Dividend
Destination resort operator DiamondRock announced yesterday its second-quarter dividend of $0.085 per share, the same rate it paid last quarter after raising the payout 6% from $0.08 per share.
The board of directors said the quarterly dividend is payable on July 11 to the holders of record at the close of business on June 28. The real estate investment trust was forced to suspend its dividend in 2010 during the global financial crisis and initiated it again in 2011.
The regular dividend payment equates to a $0.34-per-share annual dividend, yielding 3.6% based on the closing price of DiamondRock's stock on June 10.
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