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HPT To Pay 45-Cent Quarterly Dividend

Dec 8, 2009 | Reprints | Unlock Link | Print

Newton REIT Hospitality Properties Trust will begin paying a quarterly cash distribution to common shareholders of $0.45 per share, or $1.80 per share per year, in 2010.

HPT expects a distribution to common shareholders may be declared in January, and be paid in February, according to a statement.

In April, HPT announced it had suspended payment of common share distributions and it would make an announcement in December regarding the amount of common share distributions which it would pay in 2009 in order to comply with Internal Revenue Service rules applicable to real estate investment trusts, or REITs, and whether the 2009 distribution, if any, would be paid in cash or some combination of cash and common shares.

In conjunction with today’s announcement concerning 2010 distributions, HPT announced it will declare no additional common share distributions for 2009 because it has met its minimum IRS distribution requirements for 2009.

Executive Briefing