PHOENIX-The owner of six resort properties in Arizona, Phoenix-based ILX Resorts Inc., will pay a quarterly dividend of 10 cents per share, the company said this week. The dividend is payable Oct. 10 to stockholders of record at the close of business Sept. 30.

The company said shareholders electing participation before the payment date may reinvest dividends in additional shares of common stock through a plan adopted March 4. The annual dividend of 40 cents per share, payable quarterly, was declared on Dec. 18, 2002.

“We are very pleased to be paying this third consecutive dividend, which, in conjunction with the dividend reinvestment plan, provides shareholders with both a current return and the opportunity to expand their investment in the future of the company,” Joseph P. Martori, chairman of ILX Resorts, said in a press release.