BETHESDA, MD--(Marketwired - July 11, 2016) - Condor Hospitality Trust, Inc. (NASDAQ: CDOR), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, today announced that its board of directors has declared a common stock dividend of $0.01 per share for the second quarter. The dividend will be payable on August 3, 2016, to shareholders of record as of July 22, 2016.
"We are pleased to declare and pay a dividend to the holders of our common stock for the first time since 2009," said Bill Blackham, Condor's Chief Executive Officer. "The recent redemption of the Company's Series A & B Preferred Stock combined with the declaration and payment of dividends through June 30, 2016 on the Company's Series D Preferred Sock enables the board of directors to approve the resumption of common stock dividends at this time. The board of directors intends to continue to review all circumstances in the future and consider the payment of common stock dividends, if permitted and in amounts it deems appropriate," Blackham continued.
About Condor Hospitality Trust, Inc.
Condor Hospitality Trust, Inc. (NASDAQ: CDOR) is a self-administered real estate investment trust incorporated in the state of Maryland that specializes in the investment and ownership of upper midscale and upscale, premium-branded select-service, extended stay and limited-service hotels. The company currently owns 31 hotels in 16 states. Condor's hotels are franchises of a number of the industry's most well-regarded brand families including Hilton, Marriott, InterContinental Hotels Group, Choice, and Wyndham. For more information or to make a hotel reservation visit www.condorhospitality.com.
Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These risks are discussed in the company's filings with the Securities and Exchange Commission.