Host Hotels Lifts Dividend by a Penny

By FOXBusiness

Host Hotels & Resorts (NYSE:HST) said Monday that its board authorized a 17% increase in its quarterly cash dividend, to 7 cents a share.

The one-penny jump from 6 cents marks the Bethesda, Md.-based hotel operator’s sixth straight dividend lift.

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It will be payable on July 16 to shareholders of record on June 29.

The real estate investment trust reported a 10% increase in revenue last month and raised its full-year outlook. Comparable hotel revenue per available room -- a key growth metric of hotel companies based on occupancy and room-rates -- climbed 6.1% last period.