Hotel Investors Trust May Cut Dividend
Hotel Investors Trust, a Woodland Hills real estate investment trust, said it will pay a quarterly dividend of 50 cents a share on Nov. 1 to shareholders of record as of Oct. 10.
The company’s shares are paired and traded together on New York Stock Exchange with Hotel Investors Corp., which manages hotels.
But Hotel Investors Trust Chief Executive John F. Rothman hinted that future dividends will be cut. The company’s statement noted that even though Hotel Investors Trust has maintained a $2 annual dividend rate, its “operating cash flow for the year will be substantially below that level.” The company’s statement added that in the future Rothman “expects dividends paid will be more in line with operating cash flow. . ..”