Sotherly Hotels Inc. Announces Quarterly Preferred Dividends

Rhea-AI Summary

Sotherly Hotels (NASDAQ: SOHO) has declared quarterly cash dividends for its Series B, C, and D Preferred Stock. The company will distribute:

- $0.50 per share (8.0%) for Series B Preferred Stock
- $0.4921875 per share (7.875%) for Series C Preferred Stock
- $0.515625 per share (8.25%) for Series D Preferred Stock

All dividends will be paid on March 14, 2025, to shareholders of record as of February 28, 2025.

Positive

• Consistent dividend payments maintained for all preferred stock series
• Attractive dividend yields ranging from 7.875% to 8.25%

Negative

• None.

News Market Reaction – SOHO

-2.81%

-2.81% Session move

In the trading session that priced this news, SOHO declined 2.81%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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WILLIAMSBURG, Va., Jan. 28, 2025 (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 March 14, 2025 to shareholders of record as of February 28, 2025.

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 March 14, 2025, to shareholders of record as of February 28, 2025.

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 March 14, 2025, to shareholders of record as of February 28, 2025.

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.

FAQ

What are the dividend amounts for Sotherly Hotels (SOHO) preferred shares in Q1 2025?

Sotherly Hotels will pay $0.50 per share for Series B, $0.4921875 for Series C, and $0.515625 for Series D preferred shares.

When is the payment date for SOHO's Q1 2025 preferred dividends?

All preferred dividend payments will be made on March 14, 2025.

What is the record date for Sotherly Hotels' preferred dividends announced in January 2025?

The record date for all preferred dividend series is February 28, 2025.

What are the dividend yields for SOHO's preferred stock series?

Series B offers 8.0%, Series C offers 7.875%, and Series D offers 8.25% dividend yields.