Ashford Hospitality Trust Increases Fourth Quarter Dividend
December 15 2004 - 4:48PM
PR Newswire (US)
Ashford Hospitality Trust Increases Fourth Quarter Dividend -
Dividend increases to $0.15 per share DALLAS, Dec. 15
/PRNewswire-FirstCall/ -- Ashford Hospitality Trust, Inc.
(NYSE:AHT) today announced the Board of Directors has declared a
quarterly cash dividend of $0.15 per fully diluted share for the
fourth quarter ending December 31, 2004. The dividend is payable on
January 18, 2004, to shareholders of record as of December 31,
2004, and represents a 7% increase from the third quarter of 2004.
On an annualized basis, the dividend equates to a 5.5% dividend
yield based on the Company's closing price on December 15, 2004.
Commenting on the announcement, Monty J. Bennett, President and CEO
of Ashford Hospitality Trust, stated, "The pace of our investment
program and the continued improvement in our portfolio has enabled
us to increase our dividend for the third consecutive quarter. We
will continue to evaluate potential dividend growth through 2005."
Ashford Hospitality Trust is a self-administered real estate
investment trust focused on investing in the hospitality industry
across all segments and at all levels of the capital structure,
including direct hotel investments, first mortgages, mezzanine
loans and sale-leaseback transactions. Additional information can
be found on the Company's web site at http://www.ahtreit.com/ .
Certain statements and assumptions in this press release contain or
are based upon "forward-looking" information and are being made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
subject to risks and uncertainties. When we use the words "will
likely result," "may," "anticipate," "estimate," "should,"
"expect," "believe," "intend," or similar expressions, we intend to
identify forward-looking statements. Such forward-looking
statements include, but are not limited to, the ability to increase
our dividend, our business and investment strategy, our
understanding of our competition and current market trends and
opportunities and projected capital expenditures. Such statements
are subject to numerous assumptions and uncertainties, many of
which are outside Ashford's control. These forward-looking
statements are subject to known and unknown risks and
uncertainties, which could cause actual results to differ
materially from those anticipated, including, without limitation:
general volatility of the capital markets and the market price of
our common stock; changes in our business or investment strategy;
availability, terms and deployment of capital; availability of
qualified personnel; changes in our industry and the market in
which we operate, interest rates or the general economy; and the
degree and nature of our competition. These and other risk factors
are more fully discussed in the section entitled "Risk Factors" in
Ashford's filings with the Securities and Exchange Commission. The
forward-looking statements included in this press release are only
made as of the date of this press release. Investors should not
place undue reliance on these forward-looking statements. We are
not obligated to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or circumstances, changes in expectations or otherwise. Contact:
David Kimichik Tripp Sullivan Chief Financial Officer Corporate
Communications, Inc. (972) 490-9600 (615) 254-3376 DATASOURCE:
Ashford Hospitality Trust, Inc. CONTACT: David Kimichik, Chief
Financial Officer of Ashford Hospitality Trust, Inc.,
+1-972-490-9600; or Tripp Sullivan of Corporate Communications,
Inc., +1-615-254-3376 Web site: http://www.ahtreit.com/
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