| IRVING, Texas…March 31, 1999 – FelCor Lodging Trust Incorporated
(NYSE:FCH), one of the nation’s largest hotel real estate investment trusts
(REIT), today announced the declaration of its first quarter dividends.
FelCor will pay $0.55 per share on its Common Stock, $0.4875 per share
on its $1.95 Series A Cumulative Convertible Preferred Stock and $0.5625
per depository share on its 9% Series B Cumulative Redeemable Preferred
Stock. The first quarter dividends will each be payable on
April 30, 1999, to stockholders of record on April 15, 1999.
“For the last five years, FelCor’s dividends have provided an attractive
yield to shareholders,” said Thomas J. Corcoran, Jr., FelCor’s President
and CEO. “Based on yesterday’s closing price for FelCor Common Stock on
the New York Stock Exchange, the regular first quarter dividend represents
nearly a 9.5% annualized yield to FelCor’s shareholders.”
FelCor Lodging Trust is one of the nation’s largest hotel REITs.
Since its initial public offering in 1994 with six hotels and 1,479 suites,
FelCor’s portfolio has grown to 189 hotels with nearly 50,000 rooms and
suites. The company’s hotel portfolio is primarily concentrated in
the upscale and full-service segments. FelCor is the owner of the
largest number of Embassy Suites®, Crowne Plaza®, Holiday Inn®
and independently owned Doubletree®-branded hotels. Other leading
hotel brands under which FelCor’s hotels are operated include Sheraton
Suites®, Sheraton® and Westin®. FelCor has a current market
capitalization of approximately $3.5 billion. Additional information
on the company can be found on the Web at http:/felcor.com.
With the exception of historical information, the matters discussed
in this news release include “forward looking statements” within the meaning
of the federal securities laws and are qualified by cautionary statements
contained herein and in FelCor’s filings with the Securities and Exchange
Commission. |
