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Choice Hotels' News

Choice Hotels International Increases Dividend By 5% And Increases Share Repurchase Authorization To 3 Million Shares
Board of directors declares quarterly cash dividend of $0.195.
PR Newswire
ROCKVILLE, Md.

ROCKVILLE, Md., Dec. 17, 2014 /PRNewswire/ -- Choice Hotels International (NYSE: CHH), a leading worldwide lodging company, announced that its board of directors has approved a 5 percent increase in the quarterly cash dividend on the company's common stock, representing an increase from $0.185 to $0.195 per share, effective with the dividend payable on January 16, 2015 to shareholders of record on January 2, 2015. The increase will result in a projected annual dividend rate of $0.78 per annum.

http://photos.prnewswire.com/prnvar/20131015/NE98133LOGO-l

In addition, Choice Hotels' board of directors also approved increasing the number of shares authorized under its long-standing share repurchase program to 3 million shares.

Declaration of future dividends are subject to the discretion of the board of directors and the board of directors expects to evaluate each quarter whether or not to declare a dividend pursuant to the policy. The company may make repurchases from time to time under its share repurchase program in the open market and through privately negotiated transactions, subject to market and other conditions. There is no time limit on this authorization and no minimum number of share repurchases has been fixed. The company may revisit its dividend policy or the share repurchase authorization at any time in response to changes in market conditions, future business performance, economic conditions, future tax law changes and other factors, but remains committed to utilizing the strong cash flows it has historically generated to return excess capital to its shareholders.

About Choice Hotels

Choice Hotels International, Inc. franchises more than 6,300 hotels, representing more than 500,000 rooms, in the United States and more than 35 other countries and territories. As of September 30, 2014, 422 hotels, representing more than 32,000 rooms, were under construction, awaiting conversion or approved for development in the United States. Additionally, 94 hotels, representing approximately 8,600 rooms, were under construction, awaiting conversion or approved for development in more than 15 other countries and territories. The company's Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria hotels & suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands, as well as its Ascend Hotel Collection membership program, serve guests worldwide. Additional corporate information can be found on the Choice Hotels International, Inc. web site, which may be accessed at www.choicehotels.com.

Forward-Looking Statements

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, our use of words such as "expect," "estimate," "believe," "anticipate," "will," "forecast," "plan," "project," "assume" or similar words of futurity identify such forward-looking statements. These forward-looking statements are based on management's current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to management. Such statements may relate to projections of the company's cash flows and ability to generate excess capital, the payment of dividends, repurchases of common stock and future operations, among other matters. We caution you not to place undue reliance on any such forward-looking statements. Forward-looking statements do not guarantee future performance and involve known and unknown risks, uncertainties and other factors.

Several factors could cause actual results, performance or achievements of the company to differ materially from those expressed in or contemplated by the forward-looking statements. Such risks include, but are not limited to, changes to general, domestic and foreign economic conditions; operating risks common in the lodging and franchising industries; changes to the desirability of our brands as viewed by hotel operators and customers; changes to the terms or termination of our contracts with franchisees; our ability to keep pace with improvements in technology utilized for reservations systems and other operating systems; fluctuations in the supply and demand for hotels rooms; and our ability to manage effectively our indebtedness. These and other risk factors are discussed in detail in the company's filings with the Securities and Exchange Commission including our annual reports on Form 10-K and our quarterly reports filed on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Choice Hotels, Choice Hotels International, Choice Privileges, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria hotels & suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge, Rodeway Inn, and Ascend Hotel Collection are proprietary trademarks and service marks of Choice Hotels International Inc.

© 2014 Choice Hotels International, Inc. All rights reserved.

Logo - http://photos.prnewswire.com/prnh/20131015/NE98133LOGO-l

SOURCE Choice Hotels International, Inc.

Photo:http://photos.prnewswire.com/prnh/20131015/NE98133LOGO-l
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SOURCE: Choice Hotels International, Inc.

 

Choice Hotels International Increases Dividend By 5% And Increases Share Repurchase Authorization To 3 Million Shares

Board of directors declares quarterly cash dividend of $0.195.

PR Newswire

ROCKVILLE, Md., Dec. 17, 2014 /PRNewswire/ -- Choice Hotels International (NYSE: CHH), a leading worldwide lodging company, announced that its board of directors has approved a 5 percent increase in the quarterly cash dividend on the company's common stock, representing an increase from $0.185 to $0.195 per share, effective with the dividend payable on January 16, 2015 to shareholders of record on January 2, 2015. The increase will result in a projected annual dividend rate of $0.78 per annum.

In addition, Choice Hotels' board of directors also approved increasing the number of shares authorized under its long-standing share repurchase program to 3 million shares.

Declaration of future dividends are subject to the discretion of the board of directors and the board of directors expects to evaluate each quarter whether or not to declare a dividend pursuant to the policy. The company may make repurchases from time to time under its share repurchase program in the open market and through privately negotiated transactions, subject to market and other conditions. There is no time limit on this authorization and no minimum number of share repurchases has been fixed. The company may revisit its dividend policy or the share repurchase authorization at any time in response to changes in market conditions, future business performance, economic conditions, future tax law changes and other factors, but remains committed to utilizing the strong cash flows it has historically generated to return excess capital to its shareholders.

About Choice Hotels

Choice Hotels International, Inc. franchises more than 6,300 hotels, representing more than 500,000 rooms, in the United States and more than 35 other countries and territories.  As of September 30, 2014, 422 hotels, representing more than 32,000 rooms, were under construction, awaiting conversion or approved for development in the United States.  Additionally, 94 hotels, representing approximately 8,600 rooms, were under construction, awaiting conversion or approved for development in more than 15 other countries and territories.  The company's Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria hotels & suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands, as well as its Ascend Hotel Collection membership program, serve guests worldwide. Additional corporate information can be found on the Choice Hotels International, Inc. web site, which may be accessed at www.choicehotels.com.

Forward-Looking Statements

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, our use of words such as "expect," "estimate," "believe," "anticipate," "will," "forecast," "plan," "project," "assume" or similar words of futurity identify such forward-looking statements. These forward-looking statements are based on management's current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to management. Such statements may relate to projections of the company's cash flows and ability to generate excess capital, the payment of dividends, repurchases of common stock and future operations, among other matters. We caution you not to place undue reliance on any such forward-looking statements. Forward-looking statements do not guarantee future performance and involve known and unknown risks, uncertainties and other factors.

Several factors could cause actual results, performance or achievements of the company to differ materially from those expressed in or contemplated by the forward-looking statements. Such risks include, but are not limited to, changes to general, domestic and foreign economic conditions; operating risks common in the lodging and franchising industries; changes to the desirability of our brands as viewed by hotel operators and customers; changes to the terms or termination of our contracts with franchisees; our ability to keep pace with improvements in technology utilized for reservations systems and other operating systems; fluctuations in the supply and demand for hotels rooms; and our ability to manage effectively our indebtedness. These and other risk factors are discussed in detail in the company's filings with the Securities and Exchange Commission including our annual reports on Form 10-K and our quarterly reports filed on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Choice Hotels, Choice Hotels International, Choice Privileges, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria hotels & suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge, Rodeway Inn, and Ascend Hotel Collection are proprietary trademarks and service marks of Choice Hotels International Inc.

© 2014 Choice Hotels International, Inc.  All rights reserved.

Logo - http://photos.prnewswire.com/prnh/20131015/NE98133LOGO-l

SOURCE Choice Hotels International, Inc.

CONTACT: Scott Carman, + 1 (301) 592-6361, Scott_Carman@choicehotels.com

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The Radisson brands, including Park Plaza, Country Inn & Suites, and Park Inn by Radisson, are owned in the Americas regions by Choice Hotels.
Outside of the Americas, the brands are owned by Radisson Hotel Group, an unaffiliated company headquartered in Belgium.