Xenia Hotels & Resorts Inc. XHR, -2.41% said Friday that it has reinstated its quarterly dividend, after stopping payment around the start of the COVID-19 pandemic. The upscale hotel real estate investment trust said it will pay a quarterly dividend of 10 cents a share on Oct. 14 to shareholders of record on Sept. 30. Based on Thursday’s stock closing price of $16.22, the annual dividend rate implies a dividend yield of 2.47%, which compares with the yield for the SPDR Real Estate Select Sector ETF XLRE, -2.18% of 3.14% and the implied yield for the S&P 500 SPX, -1.13% of 1.69%. The last quarterly dividend paid was 27.5 cents a share in March 2020. Xenia’s stock, which was still inactive in premarket trading, has gained 1.6% over the past three months while the REIT sector ETF has tacked on 1.4% and the S&P 500 has advanced 2.9%.
