MeriStar Hospitality Corporation (NYSE:MHX), the nation`s third largest hotel real estate investment trust (REIT), today announced that its board of directors has declared a quarterly cash dividend of $.505 per share.
The dividend, equivalent to an annual rate of $2.02 per share, is payable July 31, 2000, to shareholders of record on July 17, 2000. Based on Tuesday`s closing stock price of $20.63, the annualized dividend yield is 9.8 percent.
Washington, D.C.-based MeriStar Hospitality Corporation owns 113 principally upscale, full-service hotels in major market and resort locations with 28,897 rooms in 27 states, the District of Columbia and Canada. The company owns hotels under such internationally known brands as Hilton, Sheraton, Marriott, Westin, Radisson and Doubletree. For more information about MeriStar Hospitality Corporation, visit the company`s web site: www.meristar.com.