Sotherly Hotels Inc. Announces Quarterly Preferred Dividends
April 30 2024 - 9:30AM
Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) today announced
that its Board of Directors has authorized payment of quarterly
cash dividends for the Company’s Series B, Series C, and Series D
Preferred Stock.
The Board of Directors authorized, and the
Company has declared, a quarterly cash dividend of $0.50 per share
of beneficial interest of the Company’s 8.0% Series B Cumulative
Redeemable Perpetual Preferred Stock. The Series B preferred
dividend will be paid on June 17, 2024 to shareholders of record as
of May 31, 2024.
The Board of Directors also authorized, and the
Company has declared, a quarterly cash dividend of $0.4921875 per
share of beneficial interest of the Company’s 7.875% Series C
Cumulative Redeemable Perpetual Preferred Stock. The Series C
preferred dividend will be paid on June 17, 2024 to shareholders of
record as of May 31, 2024.
The Board of Directors also authorized, and the
Company has declared, a quarterly cash dividend of $0.515625 per
share of beneficial interest of the Company’s 8.25% Series D
Cumulative Redeemable Perpetual Preferred Stock. The Series D
preferred dividend will be paid on June 17, 2024 to shareholders of
record as of May 31, 2024.
About Sotherly Hotels Inc.
Sotherly Hotels Inc. is a self-managed and
self-administered lodging REIT focused on the acquisition,
renovation, upbranding and repositioning of upscale to
upper-upscale full-service hotels in the Southern United States.
Sotherly may also opportunistically acquire hotels throughout the
United States. Currently, the Company’s portfolio consists of
investments in ten hotel properties, comprising 2,786 rooms, as
well as interests in two condominium hotels and their associated
rental programs. The Company owns hotels that operate under the
Hilton Worldwide and Hyatt Hotels Corporation brands, as well as
independent hotels. Sotherly Hotels Inc. was organized in 2004 and
is headquartered in Williamsburg, Virginia. For more information,
please visit www.sotherlyhotels.com.
Contact at the Company:
Mack Sims
Sotherly Hotels Inc.
306 South Henry Street, Suite 100
Williamsburg, Virginia 23185
(757) 229-5648
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