On September 15, 2001, the Company declared quarterly preferred stock dividends of $0.5781 cents per share for Series A and $0.425 cents per share for Series S. These dividends were paid on October 20, 2001 to shareholders of record on September 30, 2001.
On September 15, 2001, the Company declared a quarterly dividend of $0.245 per common share. The dividend is payable on November 20, 2001, to shareholders of record on September 30, 2001. Mr. Tom Kitchin, CEO indicated that the Company will re-evaluate its common dividend policy after there is a clearer picture of fourth quarter 2001 operating results and 2002 operating projections. ``The slowdown in the economy and the tragic events of September 11th have significantly affected the REVPAR trends of our brands,'' stated Kitchin. ``We anticipate substantially decreasing the payout of dividends on our common stock during 2002 until our cash available for distribution improves to a satisfactory level,'' concluded Kitchin. The Company expects to pay the full preferred dividends on its Series A and Series S preferred stock during 2002.
Sure looks like you called those ones right. How bad is the liquidity. I can see by the chart that there are several days with more than 20,000 trading. That seems like with limit buys and sells, you can have a reasonably liquid market.
> Sure looks like you called those ones right. > How bad is the liquidity. I can see by the > chart that there are several days with more > than 20,000 trading. That seems like with > limit buys and sells, you can have a > reasonably liquid market.
Actually, these things are very thinly traded, and sometimes have quite large spreads between the bid and ask. Many days they don't trade at all, and frequently the trading is limited to a few trades (3 or 4) of a few thousand shares per trade, or even less.
Somtimes, this thinness and volitality can be benificial - I frequently have open orders at both the bid and ask, especially when the spreads aproach 6-7%. On a good day, I might do an in-and-out or an out-and-back-in for a half-buck or more.