Hersha Announces Fourth Quarter Dividends
PHILADELPHIA, PA, December 8, 2006. Hersha Hospitality Trust (AMEX: HT), a real estate investment trust (REIT), which owns interests in 60 nationally franchised, high quality, upper-upscale, upscale and midscale limited service and extended-stay hotels, today announced that its Board of Trustees declared a cash dividend of $0.50 per Series A Preferred Share. The preferred share dividend is payable January 15, 2007 to holders of record as of January 1, 2007.
The Board of Trustees also declared quarterly cash dividends of $0.18 per Common Share and per Limited Partnership unit for the fourth quarter ending December 31, 2006. The common share dividend and limited partnership unit distribution are payable on January 17, 2007 to shareholders and unitholders of record on December 29, 2006.
The common share dividend represents an approximate annualized yield of 6.4%, based upon the December 7, 2006 closing share price of $11.20, and is the 31st consecutive common share dividend paid by the Company, at this per share amount, since its initial public offering.
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