On 5/14/14, Summit Hotel Properties Inc's 7.125% Series C Cumulative Redeemable Preferred Stock (INN.PRC) will trade ex-dividend, for its quarterly dividend of $0.4453, payable on 5/30/14. As a percentage of INN.PRC's recent share price of $24.70, this dividend works out to approximately 1.80%, so look for shares of INN.PRC to trade 1.80% lower — all else being equal — when INN.PRC shares open for trading on 5/14/14. On an annualized basis, the current yield is approximately 7.20%, which compares to an average yield of 7.13% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.
Summit Hotel Properties' Series C Preferred Stock About To Put More Money In Your Pocket
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