Hersha Hospitality Trust Announces Dividends
PHILADELPHIA--(BUSINESS WIRE)-- Hersha Hospitality Trust (NYS: HT) , owner of upscale hotels in urban gateway markets, today announced that its Board of Trustees declared a cash dividend of $0.50 per Series B Preferred Share and $0.1862 per Series C Preferred Share for the first quarter ending March 31, 2013. The preferred share dividends are payable April 15, 2013 to holders of record as of April 1, 2013. The Series C dividend represents a quarterly dividend payout of $0.4297 per share, adjusted on a pro-forma basis for the timing of the closing of the Company's public offering of the Series C shares on March 6, 2013.
The Board of Trustees also declared quarterly cash dividends of $0.06 per Common Share and per Limited Partnership unit for the first quarter ending March 31, 2013. The common share dividend and limited partnership unit distribution are payable April 15, 2013 to holders of record as of April 1, 2013.
About Hersha Hospitality Trust
Hersha Hospitality Trust is a self-advised real estate investment trust that owns 63 hotels in major urban gateway markets including New York, Washington, Boston, Philadelphia, Los Angeles and Miami totaling 9,129 rooms. HT follows a highly selective investment approach and leverages operational advantage through rigorous and sustainable asset management practices. For further information on the Company visit our website at www.hersha.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those reflected in the forward-looking statement. For a description of these factors, please review the information under the heading "Risk Factors" included in Hersha Hospitality Trust's Annual Report on Form 10-K for the year ended December 31, 2012, filed with the U.S. Securities Exchange Commission.
Hersha Hospitality Trust
Ashish Parikh, 215-238-1046
KEYWORDS: United States North America Pennsylvania
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