Ashford Trust Keeps Dividend Steady
Hospitality industry REIT Ashford Hospital Trust announced today its third-quarter dividend of $0.12 per share, the same rate it's paid for the past two quarters after raising the payout 9%, from $0.11 per share.
The board of directors also said it was paying dividends on three series of preferred stock:
- $0.5344 per share on its 8.55% Series A cumulative preferred stock, equating to $2.1375 per share annually
- $0.5281 per share on its 8.45% Series D cumulative preferred stock, equating to $2.1125 per share annually
- $0.5625 per share on its 9.00% Series E cumulative preferred stock, equating to $2.25 per share annually
The dividends on both the common and preferred shares are payable on Oct. 15 to the holders of record at the close of business on Sept. 30. The REIT began paying dividends on its common shares in 2007, but suspended the payout at the end of 2008 at the height of the financial crisis. It reinitiated the dividend in 2011, and has increased the payout annually since.
The regular dividend payment equates to a $0.48-per-share annual dividend, yielding 3.9% based on the closing price today of Ashford Hospitality Trust's stock.
The article Ashford Trust Keeps Dividend Steady originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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