Host Hotel & Resorts announces quarterly and special dividend on common stock and quarterly dividend on preferred stock
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Host Hotel & Resorts announces quarterly and special dividend on common stock and quarterly dividend on preferred stock
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Category: Worldwide -
This is a press release selected by our editorial committee and published online for free on 2007-12-18
Host Hotels & Resorts, Inc. (NYSE:HST) today announced that its Board of Directors authorized a regular quarterly cash dividend of $0.20 per share on the Company’s common stock and a special dividend of $0.20 per share. The combined dividend of $0.40 per share is payable on January 15, 2008 to stockholders of record on December 31, 2007. As previously announced, the Company intends to pay a regular quarterly common dividend of $0.20 per share and a special dividend in the fourth quarter, the amount of which varies depending on the Company’s taxable income. The 2007 special common stock dividend of $0.20 per share, combined with the four regular quarterly 2007 common stock dividends of $0.20 per share result in a full year 2007 common stock dividend of $1.00 per share, an increase of over 31% over the 2006 common dividend.
The Company also declared a cash dividend of $0.5546875 per share on its Class E cumulative redeemable preferred stock for the fourth quarter of 2007. The preferred dividend is payable on January 15, 2008 to stockholders of record on December 31, 2007.
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