Chesapeake Lodging Trust Declares Dividends for the First Quarter; Increases Quarterly Common Share Dividend by 15%
ANNAPOLIS, Md.--(BUSINESS WIRE)--Chesapeake Lodging Trust (NYSE:CHSP) (the “Trust”) announced today that its board of trustees has declared a quarterly dividend payment of $0.30 per common share. The dividend will be paid on April 15, 2014 to shareholders of record at the close of business on March 31, 2014. The dividend represents a 4.6% annualized yield based on the closing price of the Trust’s common shares on February 19, 2014.
The Trust also announced that its board of trustees has declared a quarterly dividend payment of $0.484375 per share of the Trust’s 7.75% Series A Cumulative Redeemable Preferred Shares. The dividend will be paid on April 15, 2014 to shareholders of record at the close of business on March 31, 2014.
ABOUT CHESAPEAKE LODGING TRUST
Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. The Trust owns 20 hotels with an aggregate of 5,932 rooms in eight states and the District of Columbia. Additional information can be found on the Trust’s website at www.chesapeakelodgingtrust.com.