This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FelCor Declares Current Quarterly And Accrued Preferred Dividends

Second graph, last sentence of release should read: The dividend payment to holders of its Series C Preferred Stock includes the current quarterly dividends of $0.50 per depository share (sted The dividend payment to holders of its Series C Preferred Stock includes the current quarterly dividends of $0.4875 per depository share). This correction does not impact any of the aggregate dividend numbers previously provided.

The corrected release reads:

FELCOR DECLARES CURRENT QUARTERLY AND ACCRUED PREFERRED DIVIDENDS

FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that its Board of Directors declared dividends payable on its Series A Cumulative Convertible Preferred Stock and its 8% Series C Cumulative Redeemable Preferred Stock.

FelCor will pay aggregate dividends of $1.9975 per share on its Series A Preferred Stock and $2.05 per depositary share evidencing its Series C Preferred Stock to its stockholders of record on July 16, 2012. The dividend payment date is July 31, 2012. The dividend payment to holders of its Series A Preferred Stock includes the current quarterly dividends of $0.4875 per share and accrued preferred dividends of $1.51 per share. The dividend payment to holders of its Series C Preferred Stock includes the current quarterly dividends of $0.50 per depository share and accrued preferred dividends of $1.55 per depository share.

After paying these dividends, FelCor will have paid $30.0 million of the $67.7 million of its outstanding accrued preferred dividends. FelCor remains committed to paying the remaining accrued preferred dividends in 2012 using proceeds from future asset sales. We are currently marketing 10 hotels and continue to make progress relative to our long-term strategic plan. We expect to bring the 14 remaining hotels to market in late 2012 or in early 2013. The proceeds from selling these hotels will allow us to continue to reduce debt, restructure our balance sheet, and improve long-term FFO and stockholder value.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs