Chatham Lodging increases dividend 14% to annual rate of 96c per share Chatham Lodging Trust announced that its board of trustees has voted to raise the dividend by 14% to an annual rate of 96c per share. Chathamís board has declared a monthly common share dividend of 8c for April. The common share dividend is payable May 30 to shareholders of record on April 30. Dennis Craven, Chathamís CFO says, ďOur goal is to reward investors with dividend growth that correlates to growth in EBITDA and the 16% increase in FFO per share, using the midpoint of our 2014 FFO per share guidance, aligns with the 14% dividend increase."
Chatham Lodging files to sell 2.5M shares of common stock The Company will contribute the net proceeds of the offering to its operating partnership in exchange for common units of limited partnership interest in the operating partnership. The Companyís operating partnership intends to use the net proceeds to pay a portion of the $90 million purchase price for the acquisition of a upscale extended-stay hotel located in San Diego, California. Barclays is acting as sole book-running manager for the offering.