Hospitality industry real estate investment trust Ashford Hospitality Trust (NYSE:AHT) announced today its second-quarter dividend of $0.12 per share, the same rate it paid last quarter after raising the payout 9% from $0.11 per share.
The board of directors also said it would pay a second-quarter dividend on three series of preferred shares:
- $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; and
- $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 July 15 to the holders of record at the close of business on June 28. 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 3.5% based on the closing price of Ashford Hospitality Trust's stock on June 13.
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.
More from The Motley Fool
Why FelCor Lodging Trust Incorporated Stock Is Surging Today
A hostile offer may put FelCor Lodging Trust in play for an acquisition.
Ashford Hospitality Trust: Too Good to Be True?
This hotel REIT is cheaply valued and pays a high dividend, but here's what you need to know before jumping in.
Ashford Hospitality to Spin Off Portfolio of 8 Luxury Hotels
New company will target market with RevPAR twice the national average.