BETHESDA, Md., Jun 20, 2011 (BUSINESS WIRE) -- RLJ Lodging Trust (the "Company") (NYSE: RLJ) today announced that its Board of Trustees declared a prorated cash dividend of $0.08 per common share of beneficial interest, payable on July 15, 2011, to shareholders of record as of June 30, 2011.
The $0.08 dividend is prorated from May 16, 2011, the closing date of the Company's initial public offering, through June 30, 2011. The implied full rate of the dividend for the second quarter is $0.15.
Based on the Company's common stock closing price of $17.85 on June 20, 2011, the annualized dividend represents a 3.4% yield.
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on acquiring premium-branded, focused service and compact full-service hotels. The Company's portfolio consists of 140 hotels in 19 states and the District of Columbia, with a total of more than 20,400 rooms. Additional information may be found on the Company's website: rljlodgingtrust.com
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's final prospectus relating to the Company's initial public offering, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.
SOURCE: RLJ Lodging Trust
RLJ Lodging Trust
Director of Finance