Hersha Announces First Quarter Dividends
MARCH 12, 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 first quarter ending March 31, 2007. The preferred share dividend is payable April 16, 2007 to holders of record as of April 1, 2007.
The Board of Trustees also declared quarterly cash dividends of $0.18 per Common Share and per Limited Partnership unit for the first quarter ending March 31, 2007. The common share dividend and limited partnership unit distribution are payable on April 17, 2007 to shareholders and unitholders of record on March 30, 2007.
The common share dividend represents an approximate annualized yield of 6.4%, based upon the March 9, 2007 closing share price of $11.21, and is the 32nd consecutive common share dividend paid by the Company, at this per share amount, since its initial public offering.
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