Wednesday, May 4, 2011
The dividend of $.05625 represents a dividend payment for the fractional portion of the first quarter of 2011 since the settlement of the company’s Initial Public Offering of February, 14, 2011. The company’s annualized dividend is $0.45 per common share. This fractional quarterly dividend and the annualized dividend represent a current yield of 4.09% based on the May 3, 2011 closing price of $11.00 per share.
Summit Hotel Properties, Inc. is a self-advised real estate investment trust focused on acquiring and owning premium-branded select-service hotels in the upscale and upper midscale segments. As of May 3, 2011, the company’s hotel portfolio consisted of 68 hotels with a total of 6,888 guestrooms located in 19 states.
Additional information about Summit may be found at the company’s website, http://www.shpreit.com/
(Media, Jerry Daly, Carol McCune, Daly Gray Public Relations, (703) 435-6293, firstname.lastname@example.org
(Investors) Dan Boyum, Summit Hotel Properties, Inc.,(605) 361-9566 ext 4015