Winston Hotels Announces Dividends For Third Quarter 2000

Winston Hotels, Inc., (NYSE: WXH), today announced that its Board of Directors has declared the Company’s regular quarterly cash dividend distributions on its common and preferred shares.

The Board declared a cash dividend of $0.28 per common share for the third quarter of 2000. The cash dividend is payable on October 16, 2000, to shareholders of record on September 30, 2000. The Company currently has approximately 16.9 million common shares outstanding. Based on today’s closing price of $8.75 per common share, the annualized dividend yield is 12.8%.


The Board also declared a cash dividend of $0.578125 per preferred share for the third quarter of 2000. The cash dividend is payable on October 16, 2000, to preferred shareholders of record on September 30, 2000. The Company currently has 3.0 million preferred shares outstanding.


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