Sotherly Hotels Inc. Announces Quarterly Dividends
July 25 2017 - 8:00AM
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 $0.11 per common
share of beneficial interest. The quarterly dividend will be paid
on October 11, 2017 to shareholders of record as of September 15,
2017. The common dividend represents an increase of 4.8 percent
over the prior period and an annualized yield of approximately 6.7
percent based on the closing price of the Company’s common shares
on July 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 October 16, 2017 to shareholders
of record as of September 29, 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 to
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 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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