Sotherly Hotels Inc. Announces Quarterly Dividends
April 25 2017 - 7:00AM
Sotherly Hotels Inc. (NASDAQ:SOHO) (the “Company”) today announced
that its Board of Directors has authorized, and the Company has
declared, a quarterly cash dividend of $0.105 per common
share of beneficial interest. The quarterly dividend will be paid
on July 11, 2017 to shareholders of record as of June 15, 2017. The
common dividend represents an increase of 5.0 percent over the
prior period and an annualized yield of approximately 7.3 percent
based on the closing price of the Company’s common shares on April
21, 2017.
The Board of Directors also authorized, and the
Company has declared, a regular 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 quarterly
preferred dividend will be paid on July 17, 2017 to shareholders of
record as of June 30, 2017.
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 and
upper-upscale full-service hotels in the Southern United
States. Currently, the Company’s portfolio consists of
investments in eleven hotel properties, comprising 2,838 rooms, and
an interest in the Hyde Resort & Residences, a 400-unit luxury
condo-hotel. Most of the Company’s properties operate under the
Hilton Worldwide, InterContinental Hotels Group and Marriott
International, Inc. brands. Sotherly Hotels Inc. was organized in
2004 and is headquartered in Williamsburg, Virginia. For more
information, please visit www.sotherlyhotels.com.
Contact at the Company:
Scott Kucinski
Sotherly Hotels Inc.
410 West Francis Street
Williamsburg, Virginia 23185
(757) 229-5648
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