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WASHINGTON, DC-The board of directors of MeriStar Hospitality Corp. has declared a quarterly cash dividend of $.505 per share. MeriStar is the nation’s third-largest REIT.

The dividend is payable on July 31, to all shareholders as of July 13. Based on the stock’s closing price on Wednesday ($22.75 a share), the annual dividend yield is 8.9%.

MeriStar Hospitality Corporation owns 113 upscale, full-service hotels in major markets and resort locations with 28,897 rooms in 27 states, the District of Columbia and Canada. Brands include Hilton, Sheraton, Marriott, Westin, Radisson and Doubletree.

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