Sotherly Hotels Inc. Announces Quarterly Dividends
October 29 2019 - 9:00AM
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 $0.13 per common share of beneficial interest. The
quarterly dividend will be paid on January 10, 2020 to shareholders
of record as of December 13, 2019. The common dividend represents
an annualized yield of approximately 8.0% percent based on the
closing price of the Company’s common shares on October 28, 2019.
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 Series B
preferred dividend will be paid on January 15, 2020 to shareholders
of record as of December 31, 2019.
The Board of Directors also authorized, and the
Company has declared, a regular 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 January 15, 2020 to
shareholders of record as of December 31, 2019.
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 January 15, 2020 to shareholders
of record as of December 31, 2019.
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.
Currently, the Company’s portfolio consists of investments in
twelve hotel properties, comprising 3,156 rooms, as well as
interests in the Hyde Resort & Residences and the Hyde Beach
House Resort & Residences. The Company owns hotels that operate
under the Hilton Worldwide, Marriott International, Inc., 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.
Contact at the
Company:
Scott Kucinski Sotherly Hotels Inc.410 West
Francis StreetWilliamsburg, Virginia 23185 (757) 229-5648
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