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Upscale hotel operator LaSalle Hotel Properties (NYSE: LHO ) announced yesterday its third-quarter dividend of $0.28 per share, a 40% increase in the payout made to investors from the $0.20 per share paid last quarter.
The board of directors said the quarterly dividend is payable on Oct. 15 to the holders of record at the close of business on Sept. 30. The hotel operator has made quarterly payouts to investors since 1998.
The regular dividend payment equates to a $1.12-per-share annual dividend, yielding 4.4% based on the closing price of LaSalle Hotel Properties' stock on July 17.