Winston Hotels Announces Dividends for First Quarter

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 first quarter of 2001. The cash dividend is payable on April 16, 2001 to shareholders of record on March 30, 2001. The Company currently has approximately 16.9 million common shares outstanding. Based on today`s closing price of $8.72 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 first quarter of 2001. The cash dividend is payable on April 16, 2001, to preferred shareholders of record on March 30, 2001. The Company currently has 3.0 million preferred shares outstanding.


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