Choice Hotels International, Inc. (CHH) will suspend its quarterly dividend in 2020 because of COVID-19. Last year the company raised its quarterly dividend by 4.7 percent to $0.225 per share. This was the first dividend hike by the hotel franchisor since 2016.

On April 8, 2020 Choice Hotels International provided a COVID-19 business update. In the press release management and the Board of Directors announce steps take to adjust the company's cost structure and increase its financial flexibility. This includes the suspension of future, undeclared dividends for the remainder of 2020.

Choice Hotels International, Inc. is an international hotel franchisor. The company is one of the world's largest lodging companies and provides business and leisure travelers with a range of high-quality lodging options from limited-service to full-service hotels in the upscale, midscale, extended stay and economy segments. It franchises lodging properties under brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, Cambria hotels & suites, and Ascend Hotel Collection.