Hersha Announces Second Quarter Dividends
MAY 25, 2007. Hersha Hospitality Trust (AMEX: HT), owner of nationally franchised premium full service and limited service hotels, today announced that its Board of Trustees declared a cash dividend of $0.50 per Series A Preferred Share for the second quarter ending June 30, 2007. The preferred share dividend is payable July 16, 2007 to holders of record as of July 1, 2007.
The Board of Trustees also declared quarterly cash dividends of $0.18 per Common Share and per Limited Partnership unit for the second quarter ending June 30, 2007. The common share dividend and limited partnership unit distribution are payable on July 17, 2007 to shareholders and unitholders of record on June 29, 2007.
The common share dividend represents an approximate annualized yield of 6.0%, based upon the May 24, 2007 closing share price of $12.03, and is the 33rd consecutive common share dividend paid by the Company, at this per share amount, since its initial public offering.
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