La Quinta Declares Dividend on 9% Preferred Stock
March 01 2005 - 11:32AM
PR Newswire (US)
La Quinta Declares Dividend on 9% Preferred Stock DALLAS, March 1
/PRNewswire-FirstCall/ -- La Quinta Properties, Inc. announced
today that the Board of Directors declared a dividend of $0.5625
per depositary share on its 9% Series A Cumulative Redeemable
Preferred Stock for the period from January 1, 2005 to March 31,
2005. Shareholders of record on March 15, 2005 will be paid the
dividend of $0.5625 per depositary share of Preferred Stock on
March 31, 2005. Dividends on the Series A Preferred Stock are
cumulative from the date of original issuance and are payable
quarterly in arrears on March 31, June 30, September 30 and
December 31 of each year (or, if not a business date, on the next
succeeding business day) at the rate of 9% of the liquidation
preference per annum (equivalent to an annual rate of $2.25 per
depositary share). About La Quinta Corporation La Quinta
Corporation and its controlled subsidiary, La Quinta Properties,
Inc. (NYSE:LQI), is one of the largest owner/operators of
limited-service hotels in the United States. Based in Dallas,
Texas, the Company owns, operates or franchises more than 590
hotels in 39 states under the La Quinta Inns(R), La Quinta Inn
& Suites(R), Baymont Inns & Suites(R), Woodfield Suites(R)
and Budgetel(R) brands. For reservations or more information about
La Quinta Corporation, its brands or franchising programs, please
visit http://www.lq.com/ . DATASOURCE: La Quinta Corporation
CONTACT: Temple Weiss, Investor Relations of La Quinta Corporation,
+1-214-492-6600 Web site: http://www.lq.com/
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