Supertel suspends regular dividends on 8%, 10%, 6.25% preferreds

By Marisa Wong

Madison, Wis., Dec. 11 - Supertel Hospitality, Inc. announced the suspension of regular dividends on its outstanding preferred stock.

The company's board of directors has elected to suspend the payment of monthly dividends on the outstanding shares of Supertel's 8% series A convertible preferreds, quarterly dividends on the outstanding shares of its 10% series B cumulative preferreds and quarterly dividends on the outstanding shares of its 6.25% series C cumulative convertible preferreds.

The company has suspended the dividends to preserve capital and improve liquidity, according to a press release.

The real estate investment trust is based in Norfolk, Neb.

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