FelCor Declares Current Quarterly and Accrued Preferred Dividends
29 Junho 2012 - 10:00AM
Business Wire
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 $0.4875 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.
About FelCor
FelCor, a real estate investment trust, owns 70 primarily
upper-upscale, full-service hotels that are located in major and
resort markets throughout 22 states. FelCor partners with leading
hotel companies to operate its diversified portfolio of hotels,
which are flagged under globally recognized names such as,
Doubletree®, Embassy Suites®, Fairmont®, Hilton®, Marriott®,
Renaissance®, Sheraton®, Westin®, Holiday Inn®, and premier
independent hotels in New York. Additional information can be found
on the Company's Web site at www.felcor.com.
Felcor Lodging (NYSE:FCH)
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