At Least It's Something from LaSalle Hotel Properties 
The luxury hotel owner, LaSalle Hotel Properties, isn't paying such a luxirous dividend anymore. The company announced today an almost 96% reduction in its quarterly dividend. The company is now paying just 1 cent per quarter. However, in a economic depression where many REITs are suspending dividends entirely, at least LaSalle is paying something to their shareholders.
To LaSalle I say, "good job." You resisted the temptation to follow the hospitatlity crowd by cutting your dividend entirely. Now clean-up your balance sheet and get to work on that special year-end dividend I'm expecting from the rest of your sector.
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Feb.04.2009. 17:14
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