EQUITY INNS, INC. ANNOUNCES 9% INCREASE IN CASH DIVIDEND; ANNUALIZED DIVIDEND AT $.96 PER SHARE.

MEMPHIS Memphis, city, ancient Egypt
Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--March 14, 1995--Equity Inns, Inc. (Nasdaq/NM:ENNS) today announced that its Board of Directors has voted to increase the Company's regular quarterly cash dividend 9% to $.24 (twenty-four cents) per share.

The previous quarterly dividend amount was $.22 (twenty-two cents) per share. The increased dividend is payable April 27,1995, to shareholders of record on March 31, 1995.

Equity Inns' Chairman and Chief Executive Officer, Phillip Phillip is a variant of the name Philip. It may refer to:

Given name:

Phillip Buchanon (b. 1980), American sports athlete, and cornerback in American football
Phillip Johnson, disambiguation
Philip Langridge (b.

H. McNeill McNeill may refer to:

McNeill, West Virginia, a US community
McNeill (surname), people with the surname McNeill

See also

Port McNeill, British Columbia

, Sr., said, "The Board of Directors approved the dividend increase based on the success Equity Inns is achieving. This is the second increase in the Company's dividend since becoming public approximately one year ago and is consistent with the Company's policy to consider dividend changes in the first and third quarters. Based on the recent market price of Equity Inns' common stock, the dividend yield on the common stock is approximately 9.4%. The Company's annualized annualized

Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. dividend is still only approximately 70% of funds from operation projected by most analysts who follow the Company."

Equity Inns, Inc. is a real estate investment trust with headquarters in Memphis, Tennessee For the ancient Egyptian capital, see .

Memphis is a city in the southwest corner of Tennessee, and the county seat of Shelby County. Memphis rises above the Mississippi River on the 4th Chickasaw Bluff just below the mouth of the Wolf River. , which owns 20 Hampton Inn hotels, two Residence Inns, two Holiday Inns, one Comfort Inn, and one Holiday Inn Express.

CONTACT: Equity Inns, Inc., Memphis

Howard A. Silver, 901/761-9651

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Publication:	Business Wire
Date:	Mar 14, 1995
Words:	211
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