Chatham Lodging Trust Declares Quarterly Common, Preferred Dividend

Rhea-AI Summary

Chatham Lodging Trust (NYSE: CLDT) has declared a quarterly common share dividend of $0.07 and a preferred share dividend of $0.41406. These dividends are payable on April 17, 2023, to shareholders of record as of March 31, 2023. The company, focused on upscale, extended-stay hotels, owns 39 hotels with a total of 5,914 rooms/suites across 16 states and the District of Columbia. The announcement emphasizes the company’s commitment to returning value to its shareholders.

Positive

• Quarterly common share dividend of $0.07 declared, enhancing shareholder value.
• Quarterly preferred share dividend set at $0.41406, indicating financial stability.

Negative

• Potential risks associated with occupancy rates due to economic conditions and travel patterns.
• Operating risks in the hotel business may impact future performance.

WEST PALM BEACH, Fla.--(BUSINESS WIRE)-- Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 39 hotels, today announced that its board of trustees declared a quarterly common share dividend of $0.07 per common share, as well as a quarterly preferred share dividend of $0.41406 per preferred share, payable on April 17, 2023, to shareholders of record as of March 31, 2023.

About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,914 rooms/suites in 16 states and the District of Columbia. Additional information about Chatham may be found at chathamlodgingtrust.com.

Forward-Looking Statement Safe Harbor

Note: This press release contains forward-looking statements within the meaning of federal securities regulations. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "plan," "predict," "project," "will," "continue" and other similar terms and phrases, including references to assumption and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to: national and local economic and business conditions, including the effect on travel of potential terrorist attacks, that will affect occupancy rates at the company’s hotels and the demand for hotel products and services; operating risks associated with the hotel business; risks associated with the level of the company’s indebtedness and its ability to meet covenants in its debt agreements; relationships with property managers; the company’s ability to maintain its properties in a Fourth-class manner, including meeting capital expenditure requirements; the company’s ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; changes in travel patterns, taxes and government regulations which influence or determine wages, prices, construction procedures and costs; the company’s ability to complete acquisitions and dispositions; and the company’s ability to continue to satisfy complex rules in order for the company to remain a REIT for federal income tax purposes and other risks and uncertainties associated with the company’s business described in the company's filings with the SEC. Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date hereof, and the company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230307005014/en/

Dennis Craven (Company)

Chief Operating Officer

(561) 227-1386

Source: Chatham Lodging Trust

FAQ

What is the dividend amount for Chatham Lodging Trust (CLDT)?

The common share dividend is $0.07 per share.

When will the dividends for CLDT be paid?

Dividends will be payable on April 17, 2023.

What date is the record for dividends for CLDT?

The record date is March 31, 2023.

How many hotels does Chatham Lodging Trust own?

Chatham Lodging Trust owns 39 hotels.

What is the focus of Chatham Lodging Trust's investments?

The company focuses on upscale, extended-stay hotels and premium-branded, select-service hotels.