Upscale hotel REIT Pebblebrook Hotel Trust (NYSE: PEB ) announced today its third-quarter dividend of $0.16 per share, the same rate it's paid for the past two quarters after raising the payout 33%, from $0.12 per share.
The board also announced it was paying regular quarterly dividends on three series of preferred shares:
- $0.4921875 per share on its 7.875% Series A cumulative redeemable preferred shares of beneficial interest
- $0.50 per share on its 8.00% Series B cumulative redeemable preferred shares of beneficial interest
- $0.40625 per share on its 6.50% Series C cumulative redeemable preferred shares of beneficial interest
The board of directors said the quarterly regular and preferred dividends are payable on Oct. 15 to holders of record at the close of business on Sept. 30. The regular dividend payment equates to a $0.64-per-share annual dividend, yielding 2.3% based on the closing price today of Pebblebrook Hotel Trust's stock.