LaSalle Hotel said it has increased its quarterly dividend to 11 cents per common share of beneficial interest. The third quarter dividend will be paid on Oct. 15 to common shareholders of record on Sept. 30. In the second quarter, LaSalle Hotel paid a dividend of a penny per share.
"The board and management believe increasing the dividend to this level is appropriate at this time," Michael Barnello, president and CEO of LaSalle Hotel, said in a statement. "Our balance sheet is strong and the portfolio continues to generate significant cash flow."
Shares of LaSalle Hotel were climbing by 11 cents, or 0.5%, to $22.84.Elsewhere, Schiff Nutrition (WNI) said it will pay a special cash dividend of 70 cents per share on Oct. 26 to shareholders of record at the close of business on Sept. 23. The aggregate amount of the special dividend is approximately $21 million, the company said. "We are confident the company will continue to generate positive operating cash flows, and our post-dividend cash position will provide the financial flexibility to continue to fund growth initiatives, invest in our facilities, and explore acquisition opportunities," Bruce Wood, president and CEO of Schiff Nutrition, said in a statement. The dividend announcement came as Schiff Nutrition posted fiscal first-quarter earnings of 13 cents a share, coming in a penny above a two-analyst consensus estimate. Revenue was up nearly 6% from a year ago to $51.4 million, also ahead of expectations. Shares of Schiff Nutrition were lately up 49 cents, or 5.6%, to $9.19. Meanwhile, Douglas Dynamics (PLOW) late Monday declared an initial quarterly cash dividend of 18.25 cents per share, the snowplow company's first post-IPO dividend payment. "The board's decision to initiate a quarterly cash dividend is a testament to the board's confidence in the company's financial strength and ability to generate solid cash flow from operations following the successful completion of the company's initial public offering," James Janik, president and CEO of Douglas Dynamics, said in a statement. Shares of Douglas Dynamics were down 18 cents, or 1.4%, to $12.65. -- Written by Robert Holmes in Boston.
>To contact the writer of this article, click here: Robert Holmes. >To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet. >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV