Sotherly Hotels Inc. Declares Recent Dividend Updates on Preferred Stocks
Dividend Announcements for Sotherly Hotels Inc.
WILLIAMSBURG, Va. -- Sotherly Hotels Inc. (NASDAQ: SOHO) is making headlines with its recent decision to distribute quarterly cash dividends across its Series B, Series C, and Series D Preferred Stock. This announcement reflects the company's ongoing commitment to its investors and highlights its financial health.
Details on Preferred Stock Dividends
The Board of Directors has declared a quarterly cash dividend of $0.50 per share for the 8.0% Series B Cumulative Redeemable Perpetual Preferred Stock. This dividend is set to be distributed on June 16, 2025. Shareholders should note that they must be on record by May 30, 2025, to be eligible for this payment.
In addition, the Board has authorized a cash dividend of $0.4921875 per share for the 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock, also payable on June 16, 2025, to shareholders of record as of May 30, 2025.
Furthermore, shareholders can expect a cash dividend of $0.515625 per share for the Series D Cumulative Redeemable Perpetual Preferred Stock. Like the previous dividends, this one will also be distributed on June 16, 2025, with a record date of May 30, 2025.
About Sotherly Hotels Inc.
Sotherly Hotels Inc. plays a significant role in the lodging sector as a self-managed and self-administered Real Estate Investment Trust (REIT). The company's primary focus lies within the Southern United States, where it specializes in the acquisition, renovation, and repositioning of hotels ranging from upscale to upper-upscale categories.
The company’s portfolio is quite diverse, consisting of investments in ten hotels that total 2,786 rooms. Additionally, Sotherly holds interests in two condominium hotels along with their respective rental programs. Sotherly Hotels operates various brands and independently managed hotels, showcasing its versatile approach in the hospitality industry.
Recent Developments in the Company
Established in 2004, Sotherly Hotels has steadily expanded its reach and operational capabilities. The company is headquartered in Williamsburg, Virginia, and has been primarily focused on enhancing the guest experience through various brand partnerships and strategic renovations of its properties.
One notable aspect of Sotherly Hotels is its affiliation with renowned hotel brands including Hilton Worldwide and Hyatt Hotels Corporation. These partnerships not only elevate the market presence of Sotherly Hotels but also ensure a high standard of service for guests seeking quality accommodations.
The company continues to explore opportunities for growth, aiming to acquire additional hotels beyond its current portfolio. This strategic direction reinforces Sotherly Hotels Inc.'s commitment to being a leader in the hospitality sector.
Future Outlook
Looking ahead, Sotherly Hotels Inc. remains poised for further expansion and operational success. By continually assessing potential acquisitions and enhancing its existing properties, the company aims to provide exceptional value to both guests and shareholders alike. The recent dividend announcements serve as a testament to the company’s robust financial management and its dedication to rewarding investors.
Frequently Asked Questions
What dividends did Sotherly Hotels Inc. declare?
The company declared dividends of $0.50 for Series B, $0.4921875 for Series C, and $0.515625 for Series D Preferred Stock.
When will the preferred dividends be paid?
All preferred dividends will be paid on June 16, 2025, for shareholders on record as of May 30, 2025.
What is Sotherly Hotels’ focus as a company?
Sotherly Hotels focuses on acquiring, renovating, and repositioning upscale and upper-upscale hotels primarily in the Southern U.S.
How many hotel properties does Sotherly Hotels manage?
The company currently manages investments in ten hotel properties, totaling 2,786 rooms.
What brands do Sotherly Hotels operate under?
Sotherly Hotels operates hotels under major brands like Hilton Worldwide and Hyatt Hotels Corporation, as well as independent hotels.
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