Sotherly Hotels Inc. Announces Quarterly Preferred Dividends

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Sotherly Hotels Inc. (NASDAQ: SOHO) announced the authorization of quarterly cash dividends for its Series B, Series C, and Series D Preferred Stock. The dividends range from $0.4921875 to $0.515625 per share and will be paid on June 17, 2024 to shareholders of record as of May 31, 2024.

WILLIAMSBURG, Va., April 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 $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.

FAQ

What did Sotherly Hotels Inc. announce regarding dividends?

Sotherly Hotels Inc. announced the authorization of quarterly cash dividends for its Series B, Series C, and Series D Preferred Stock.

When will the dividends be paid?

The dividends will be paid on June 17, 2024.

What is the dividend range per share?

The dividend range per share is between $0.4921875 to $0.515625.

When is the record date for shareholders?

The record date for shareholders is May 31, 2024.