Choice Hotels Board Declares Two-for-One Stock Split; Also Increases Cash Dividend by More Than 15%.SILVER SPRING, Md. -- Choice Hotels International, Inc. (NYSE NYSE See: New York Stock Exchange :CHH CHH Cartilage Hair Hypoplasia CHH Crustacean Hyperglycemic Hormone CHH Carter Holt Harvey Limited (Australia & New Zealand) CHH Chuan Hup Holdings Limited (Singapore) CHH Certified Hardware Hosineer ) today announced that its Board of Directors has declared a two-for-one stock split effected in the form of a stock dividend effective October 21, 2005 to shareholders of record on October 7, 2005. The Board also approved an increase in the cash dividend on the common stock from $0.225 to $0.26 per share, payable on October 21, 2005 to shareholders of record on October 7, 2005. This increase will result in an annual dividend per share of $1.04, a 15.6% increase from the previous annual dividend of $0.90. These cash dividend amounts are on a pre-split basis and will be adjusted after the split to reflect the two-for-one split. "We are pleased to announce the increase in our cash dividend and the two-for-one stock split," said Charles A. Ledsinger, Jr., president and chief executive officer. "These actions reflect our confidence in Choice Hotels and our belief that the incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. shares outstanding and the subsequent price adjustment will result in added liquidity and a broader investor base going forward." He added, "Our company remains committed to building long-term value for shareholders through substantial cash dividends, opportunistic share repurchases Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. and continued investment in growth opportunities." Choice Hotels International is one of the world's largest lodging franchisors, marketing more than 5,000 hotels open or under development in more than 40 countries under the Cambria Suites, Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge Econo Lodge is an economy motel chain based in the United States. Econo Lodge is the second largest brand in the Choice Hotels system. It is one of the best known names of its category and provides affordable rooms to budget travelers. , MainStay Suites Mainstay Suites is a brand of mid-priced extended stay hotels franchised by Choice Hotels International. Mainstay Suites hotels provide comfortable and affordable accommodations to extended stay travelers as well as provide many amenities to its guests. and Rodeway Inn Rodeway Inn is an upper-priced economy chain of motels in the United States and Canada. Rodeway Inn is a brand of the Choice Hotels group. There are over 150 locations in North America. brand names. For more information on Choice, visit the company's web site at www.choicehotels.com. Cambria Suites, Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn and MainStay Suites are registered trademarks, service marks and trade names of Choice Hotels International, Inc. (C)2005 Choice Hotels International, Inc. All rights reserved. |
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