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Sotherly Hotels Inc. Announces Quarterly Preferred Dividends
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(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
WILLIAMSBURG, Va., April 24, 2023 (GLOBE NEWSWIRE) -- 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 15, 2023 to shareholders of record as of May 31, 2023.
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 15, 2023 to shareholders of record as of May 31, 2023.
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 15, 2023 to shareholders of record as of May 31, 2023.
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.
about sotherly hotels inc.: headquartered in williamsburg, virginia, sotherly hotels inc. is the owner of a portfolio of high-quality, full-service hotels primarily located in the high-growth markets of the southern united states. sotherly hotels is a self-managed and self-administered real estate investment trust (reit) traded on the nasdaq under the symbol soho. sotherly hotels is the next generation in a long history of companies built on a foundation of service, integrity, and hospitality--characteristics instilled by our founder, edgar sims, in 1958. the sotherly portfolio: the sotherly hotels inc. portfolio consists of investments in twelve wholly-owned hotel properties that comprise 3,009 rooms. the company's properties operate under the preferred hotels and resorts, hilton worldwide, starwood hotels and resorts, and intercontinental hotels group brands.