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Chesapeake Lodging Trust Announces First Dividend Payment

^{Published on 2010-09-10 05:15:25 - Market Wire}
 

ANNAPOLIS, Md.--([ BUSINESS WIRE ])--Chesapeake Lodging Trust (NYSE:CHSP) announced today that its board of trustees has declared a dividend payment of $.20 per common share. The dividend will be paid on October 15, 2010 to shareholders of record at the close of business on September 30, 2010. The amount of this initial dividend reflects the Companya™s expectation that it will generate significant taxable income in 2010. Going forward, the Company intends to pay quarterly dividends in amounts determined at the discretion of the Companya™s board of trustees.

"As a result of our successful investment of our initial capital in four hotel properties which are generating strong cash flows, we are pleased to be able to pay our first dividend within nine months of our IPO"

aAs a result of our successful investment of our initial capital in four hotel properties which are generating strong cash flows, we are pleased to be able to pay our first dividend within nine months of our IPO,a said James L. Francis, Chesapeakea™s President and Chief Executive Officer.

ABOUT CHESAPEAKE LODGING TRUST

Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business, airport and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. The Company owns four hotel properties with an aggregate of 1,269 rooms in two states. Additional information can be found on the Companya™s website at [ www.chesapeakelodgingtrust.com ].

Certain statements and assumptions in this press release contain or are based upon aforward-lookinga information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties. When we use the words awill likely result,a amay,a aanticipate,a aestimate,a ashould,a aexpect,a abelieve,a aintend,a or similar expressions, we intend to identify forward-looking statements. Such forward-looking statements include, but are not limited to, the timing and amount of any future dividends. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Chesapeake Lodging Trusta™s control. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances, except as required by law.