Sotherly Hotels Inc. Announces Quarterly Preferred Dividends
Rhea-AI Summary
Sotherly Hotels Inc. (NASDAQ: SOHO) has announced quarterly cash dividends for its Series B, C, and D Preferred Stock. The Board of Directors has authorized the following payments:
- Series B (8.0%): $0.50 per share
- Series C (7.875%): $0.4921875 per share
- Series D (8.25%): $0.515625 per share
All dividends will be paid on September 16, 2024, to shareholders of record as of August 30, 2024. This announcement demonstrates Sotherly Hotels' commitment to providing regular returns to its preferred stockholders.
Positive
- Consistent dividend payments for all three series of preferred stock
- Maintenance of high dividend yields ranging from 7.875% to 8.25%
- Timely declaration of dividends, indicating financial stability
Negative
- None.
News Market Reaction – SOHO
In the trading session that priced this news, SOHO declined 1.49%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
WILLIAMSBURG, Va., July 30, 2024 (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
The Board of Directors also authorized, and the Company has declared, a quarterly cash dividend of
The Board of Directors also authorized, and the Company has declared, a quarterly cash dividend of
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.
