Condor Hospitality Trust Increases Common Stock Dividend to an Annualized $0.12 per Share
BETHESDA, Md., Sept. 16, 2016 (GLOBE NEWSWIRE) -- Condor Hospitality Trust, Inc. (NASDAQ:CDOR), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, today announced that its board of directors has declared a common stock dividend of $0.03 per share for the third quarter, or $0.12 per share on an annualized basis. The dividend will be payable on October 12, 2016 to shareholders of record as of September 29, 2016.
“We are pleased to declare and pay a third quarter dividend to the holders of our common stock of $0.03 per share, a quarterly $0.02 per share increase from the $0.01 per share dividend paid on the common stock in the prior quarter,” said Bill Blackham, Condor’s Chief Executive Officer. “We have also declared the third quarter dividend payable on September 30, 2016 to our Series D preferred stock shareholders. The board of directors intends to continue to review all circumstances in the future and consider the payment of common stock dividends, if permitted and in amounts it deems appropriate,” Mr. Blackham continued.
About Condor Hospitality Trust, Inc.
Condor Hospitality Trust, Inc. (NASDAQ:CDOR), is a self-administered real estate investment trust incorporated in the state of Maryland that specializes in the investment and ownership of upper midscale and upscale, premium-branded select-service, extended stay and limited-service hotels. The company currently owns 30 hotels in 15 states. Condor’s hotels are franchised by a number of the industry’s most well-regarded brand families including Hilton, Marriott, Starwood, InterContinental Hotels Group, Choice, and Wyndham. For more information or to make a hotel reservation, visit www.condorhospitality.com.
Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These risks are discussed in the company’s filings with the Securities and Exchange Commission.
Contact: Jonathan J. Gantt Chief Financial Officer & Senior Vice President jgantt@trustcondor.com 402-371-2520
