Winston (NYSE:WXH)
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From Jul 2019 to Jul 2024
Winston Hotels, Inc. (NYSE: WXH), a real estate
investment trust (REIT) and owner of premium limited-service, upscale
extended-stay and full-service hotels, 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 $0.15 per common share for
the first quarter of 2006. The cash dividend is payable on April 13,
2006, to common shareholders of record on March 31, 2006. Based on
today's closing price of $10.65 per common share, the annualized
dividend yield is 5.6%.
The Board also declared a cash dividend of $0.50 per Series B
Cumulative Preferred share for the first quarter of 2006. The cash
dividend is payable on April 13, 2006, to preferred shareholders of
record on March 31, 2006.
About the Company
Raleigh, North Carolina-based Winston Hotels, Inc. is a real
estate investment trust specializing in the development, acquisition,
and repositioning of, and provision of subordinated financing to,
premium limited-service, upscale extended-stay and full-service
hotels, with a portfolio increasingly weighted toward the leading
brands in the lodging industry's upscale segment. The Company
currently owns or is invested in 56 hotel properties in 17 states
having an aggregate of 7,667 rooms. This includes 49 wholly owned
properties with an aggregate of 6,719 rooms, a 60 percent ownership
interest in a joint-venture that owns one hotel with 138 rooms; a 49
percent ownership interest in a joint venture that owns one hotel with
118 rooms, a 48.78 percent ownership interest in a joint venture that
owns one hotel with 147 rooms, and a 13.05 percent ownership interest
in a joint venture that owns four hotels with an aggregate of 545
rooms. The Company also currently has loans outstanding to owners of
14 hotels with an aggregate of 3,337 rooms. These loans total $38.1
million. The company does not hold an ownership interest in any of the
hotels for which it has provided financing. For more information about
Winston Hotels, Inc. visit the company's Web site at
www.winstonhotels.com.