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. Chatham’s 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, Chatham’s CFO says, “Our 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 implements corporate governance changes These initiatives, which the board believes are in the best interest of the company and its shareholders, are as follows: Opting out of Section 3-803 of the Maryland General Corporation Law and completing a full declassification by the 2017 annual meeting of shareholders; Adopting and approving a Clawback Policy providing for the recoupment by the company of certain incentive compensation under certain circumstances; Adopting and approving a Policy Prohibiting Pledging and Hedging applicable to trustees and certain officers of the company; and Amending its Corporate Governance Guidelines to clarify that the board’s annual evaluation process covers not just the entire board and its committees but also each individual trustee.