Hotel Online Special Report FelCor’s First Quarter Dividend Represents a 9.5% Annualized Yield for Shareholders 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.
Contact: Thomas J. Corcoran, Jr. President & CEO Randy Churchey Senior Vice President & CFO Monica L. Hildebrand Vice President/Director of Communications (972) 444-4900 Also See: Jack Eslick, June H. McCutchen and Larry J. Mundy Appointed as SVP’s at FelCor / Sept 1998 Westin Park Central and Sheraton Park Central in Dallas, TX Now Owned and Operated by Joint Venture between FelCor and Starwood / Nov 1998