WILLIAMSBURG, Va., Oct. 29, 2019 (GLOBE NEWSWIRE) -- 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 Street
Williamsburg, Virginia 23185
(757) 229-5648