MHI Hospitality Corporation (NASDAQ: MDH) (the “Company”) today announced that its Board of Directors has declared a quarterly cash dividend of $0.02 per common share of beneficial interest, payable on October 11, 2011 to shareholders of record as of September 15, 2011. The common dividend represents a 3.0% annualized yield based on the closing price of the common shares on July 18, 2011.
Andrew M. Sims, Chief Executive Officer of the Company, commented, “Consistent with our annual plan and as a result of our balance sheet restructuring, MHI Hospitality Corporation is reinstating its common dividend. We hope to grow the dividend in the quarters to come as our industry continues to recover and our newly repositioned assets mature.”
MHI Hospitality Corporation is a self-managed and self-administered
lodging REIT focused on the acquisition, renovation, upbranding and
repositioning of upscale to upper upscale full-service hotels in the
Mid-Atlantic and Southern United States. Currently, the Company’s
portfolio consists of investments in ten hotel properties, nine of which
are wholly-owned and comprise 2,110 rooms. All of the Company’s
wholly-owned properties operate under the Hilton Worldwide,
InterContinental Hotels Group and Starwood Hotels and Resorts brands.
The Company has a 25.0 percent interest in the Crowne Plaza Hollywood
Beach Resort. The Company also has a leasehold interest in the common
area of Shell Island Resort, a resort condominium property. MHI
Hospitality Corporation was organized in 2004 and is headquartered in
Williamsburg, Virginia. For more information please visit
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