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Condor Hospitality resumes common stock dividend

CondorHospitality Trust Inc.'s board of directors declared a common stockdividend of 1 cent per share for the second quarter, seven years aftersuspending thequarterly common stock dividend.

The dividend will be payable Aug. 3 to shareholders ofrecord as of July 22.

The suspension decision was taken in March 2009, and it didnot apply to regular dividends paid on the company's series A preferred stock andseries B preferred stock.

According to Condor CEO Bill Blackham, the of the company'sseries A and series B preferred stock, combined with the declaration andpayment of dividends through June 30 on its series D preferred stock, enabledthe board to approve the resumption of common stock dividends.