PALM BEACH, Fla., June 21 /PRNewswire-FirstCall/ -- Innkeepers USA Trust (Pink Sheets: INKPP) today announced that it has suspended payment of its 2010 second quarter dividend on its 8% Series C Cumulative Redeemable Preferred Shares.
Innkeepers' board of trustees will continue to review future quarterly dividends on the 8% Series C Cumulative Redeemable Preferred Shares based on financial and economic conditions and other appropriate factors.
A description of the 8% Series C Cumulative Redeemable Preferred Shares, is available in the Amended and Restated Declaration of Trust of Innkeepers USA Trust and the Articles Supplementary to the Declaration of Trust. Certain information regarding the 8% Series C Cumulative Redeemable Preferred Shares may be found on the company's website at www.innkeepersusa.com.
Innkeepers USA Trust is a real estate investment trust (REIT) and a leading owner of upscale and
extended-stay hotel properties throughout the United States. The company currently owns interests in 73 hotels with approximately 10,000 rooms in 19 states and the District of Columbia.
Dennis Craven, CFO
Innkeepers USA Trust
Telephone: (561) 227-1302
SOURCE Innkeepers USA Trust