Hersha boosts dividend 20%
Hersha Hospitality Trust, of Philadelphia and Harrisburg, said today that it is raising the dividend on its common stock to 6 cents a share from 5 cents. The dividend is payable July 15 to shareholders on June 30.
Hersha Hospitality Trust, of Philadelphia and Harrisburg, said today that it is raising the dividend on its common stock to 6 cents a share from 5 cents. The dividend is payable July 15 to shareholders on June 30.
Two years ago, in the midst of the country's real estate meltdown, Hersha lowered its dividend from 18 cents; the increase next month will be the first since then.
In that period, the company has posted net losses in five of the eight quarters, including a $13.4 million loss in the first quarter this year.
Hersha is a real estate investment trust with stakes in 79 hotels, mostly between Boston and Washington. -Paul Schweizer