Hersha Hospitality Trust (HT) Declares $0.20 Special Dividend; 0.9% Yield

Hersha Hospitality Trust (NYSE: HT) declared a special dividend of $0.20 per share.

The dividend will be payable on January 17, 2017, to stockholders of record on January 5, 2017, with an ex-dividend date of January 3, 2017.

The annual yield on the dividend is 0.9 percent.

“Across 2016 we have capitalized on demand from international and domestic capital sources seeking cash flowing real estate in U.S. gateway and suburban markets, and by early 2017, we expect to have sold 16 stabilized hotels for an aggregate sales price that exceeds $825 million, generating approximately $550 million in net proceeds. The Company’s successful disposition program resulted in approximately $268 million of taxable gains in 2016, the majority of which we offset through section 1031 exchange transactions and re-deployed into higher growth hotels in valuable coastal gateway markets. Given the large gains associated with our transformative asset sales, we have elected to pay a special dividend of $0.20 per common share, in addition to the significant capital we recycled into new hotel investments. We believe the Company’s dividend policy, opportunistic share buybacks and today’s special dividend are a testament to our total return philosophy, as well as our steadfast commitment to return capital to shareholders,” stated Mr. Jay H. Shah, Hersha’s Chief Executive Officer.

For a dividend history and other dividend-related data on Hersha Hospitality Trust (HT) click here.

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