Sotherly Hotels Inc. Announces Quarterly Dividends
January 28 2020 - 9:00AM
Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) 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 April
9, 2020 to shareholders of record as of March 13, 2020. The common
dividend represents an annualized yield of approximately 8.1%
percent based on the closing price of the Company’s common shares
on January 27, 2020.
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 April 15, 2020 to shareholders
of record as of March 31, 2020.
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 April 15, 2020 to
shareholders of record as of March 31, 2020.
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 April 15, 2020 to shareholders
of record as of March 31, 2020.
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 two condominium hotels and their associated rental
programs. 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:
Mack Sims
Sotherly Hotels Inc.306 South Henry Street, Suite 100Williamsburg,
Virginia 23185 (757) 229-5648
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