Sotherly Hotels Inc. Announces Quarterly Preferred Dividends

Rhea-AI Summary

Sotherly Hotels Inc. (NASDAQ: SOHO) has announced the authorization of quarterly cash dividends for its Series B, Series C, and Series D Preferred Stock. The dividends are $0.50 per share for Series B, $0.4921875 per share for Series C, and $0.515625 per share for Series D. The dividends will be paid on December 15, 2023, to shareholders of record as of November 30, 2023.

WILLIAMSBURG, Va., Oct. 31, 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 December 15, 2023 to shareholders of record as of November 30, 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 December 15, 2023 to shareholders of record as of November 30, 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 December 15, 2023 to shareholders of record as of November 30, 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.

What is the company name that announced the dividends?

The company is Sotherly Hotels Inc.

What is the stock symbol of Sotherly Hotels Inc.?

The stock symbol is NASDAQ: SOHO.

What types of Preferred Stock are eligible for dividends?

The Series B, Series C, and Series D Preferred Stock are eligible for dividends.

What is the dividend amount for Series B?

The dividend amount for Series B is $0.50 per share.

What is the dividend amount for Series C?

The dividend amount for Series C is $0.4921875 per share.

What is the dividend amount for Series D?

The dividend amount for Series D is $0.515625 per share.

When will the dividends be paid?

The dividends will be paid on December 15, 2023.

Who are the eligible shareholders for the dividends?

The shareholders of record as of November 30, 2023, are eligible for the dividends.