Choice Hotels International Increases Dividend 15 Percent
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Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on Thursday 14 September 2006
Choice Hotels International, Inc. (NYSE: CHH) today announced that its Board of Directors has approved a 15 percent increase in the company's quarterly cash dividend on the company's common stock from $0.13 to $0.15 per share, effective with the dividend payable on October 20, 2006, to shareholders of record on October 6, 2006. The increase will result in an annual dividend of $0.60 per share, which is a 15 percent increase from the previous dividend per share of $0.52 per annum.
"This is the third consecutive year the company has increased its quarterly dividend," said Charles A. Ledsinger, Jr., vice chairman and CEO. "Not only is the increase a key component of our strategy to maximize the value we deliver to our shareholders, it also reflects our confidence in our business model, our strong financial position and cash-generating capabilities, and outlook for the future," Ledsinger added.
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