DiamondRock Hospitality to pay 33-cent dividend

AP News
Posted: Dec 22, 2009 12:19 PM

Real estate investment trust DiamondRock Hospitality Co. said Tuesday that it will pay a 33-cent dividend to investors in January.

DiamondRock said it will make the payment on Jan. 29 to shareholders of record on Dec. 28. The company expects to pay 90 percent of the dividend in common stock and 10 percent in stock.

Like many REITs, DiamondRock suspended its dividend payment in 2009 in order to free up cash during the recession.

Company shares rose 4 cents to $8.75 at midday.