Equity Inns Declares 2007 First Quarter Common Share and Preferred Dividends
09 March 2007 - 4:50AM
Business Wire
Equity Inns, Inc. (NYSE: ENN), the third largest hotel real estate
investment trust (REIT), today announced that its Board of
Directors has declared quarterly cash dividends of $0.25 per common
share and $0.546875 per Series B preferred share and $0.50 per
Series C preferred share. The $0.25 per share common dividend
represents a 31.6% and 8.7% increase over the prior year quarter
and previous quarter, respectively. The record date for the common
share dividend and the preferred dividends is March 30, 2007. The
preferred dividends are payable April 30, 2007, while the common
dividend is payable May 1, 2007. About Equity Inns Equity Inns,
Inc. is a self-advised REIT that focuses on the upscale extended
stay, all-suite and midscale limited-service segments of the hotel
industry. The Company, which ranks as the third largest hotel REIT
based on number of hotels, currently owns 131 hotels with 15,592
rooms located in 35 states. For more information about Equity Inns,
visit the Company's Web site at www.equityinns.com. Forward Looking
Statements Certain matters discussed in this press release which
are not historical facts are �forward-looking statements� within
the meaning of the federal securities laws and involve risks and
uncertainties. The words �may,� �plan,� �project,� �anticipate,�
�believe,� �estimate,� �forecast, �expect,� �intend,� �will,� and
similar terms are intended to identify forward-looking statements,
which include, without limitation, statements concerning our
outlook for the hotel industry, acquisition and disposition plans
for our hotels and assumptions and forecasts of future results for
fiscal year 2007. Forward-looking statements are not guarantees of
future performance and involve numerous risks and uncertainties
which may cause our actual financial condition, results of
operations and performance to be materially different from the
results of expectations expressed or implied by such statements.
General economic conditions, future acts of terrorism or war, risks
associated with the hotel and hospitality business, the
availability of capital, .risks associated with our debt financing,
hotel operating risks and numerous other factors, may affect our
future results and performance and achievements. These risks and
uncertainties are described in greater detail in our 2006 Annual
Report on Form 10-K filed on February 28, 2007, and our other
periodic filings with the United States Securities and Exchange
Commission (SEC). We undertake no obligation and do not intend to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. Although
we believe our current expectations to be based upon reasonable
assumptions, we can give no assurance that our expectations will be
attained or that actual results will not differ materially.
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