Chatham Lodging Trust (NYSE:CLDT) has elected not to veer from its existing dividend policy. The real estate investment trust declared a monthly distribution of $0.07 per share for October, to be paid on November 29 to shareholders of record as of October 31.That amount is in line with all of the other monthly payouts the REIT has made so far in 2013.
At the beginning of this year, the company switched from paying dividends quarterly to handing them out on a monthly basis.
The just-declared dividend annualizes to $0.84 per share. That yields 4.6% at Chatham Lodging's most recent closing stock price of $18.40.
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