WILLIAMSBURG, Va., July 22, 2014 (GLOBE NEWSWIRE) -- SoTHERLY Hotels Inc. (Nasdaq:SOHO) (the "Company") today announced that its Board of Directors has declared a quarterly cash dividend of $0.065 per common share of beneficial interest. The quarterly dividend will be paid on October 15, 2014 to shareholders of record as of October 2, 2014.
Drew Sims, Chief Executive Officer of the Company, commented, "We are pleased to be able to reward our shareholders with another significant increase in our quarterly dividend, which reflects the strong performance our portfolio has delivered and our expectations for continued growth moving forward. The 30% increase of our quarterly dividend represents the fifth increase in the past seven quarters, during which time we have increased our dividend nearly 117%."
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 and upper upscale full-service hotels in the Southern United States. Currently, the Company's portfolio consists of investments in twelve hotel properties, eleven of which are wholly-owned and comprise 2,698 rooms. The Company also has a 25.0 percent interest in the Crowne Plaza Hollywood Beach Resort. Most of the Company's properties operate under the Hilton Worldwide, InterContinental Hotels Group and Starwood Hotels and Resorts brands. SoTHERLY Hotels Inc.was organized in 2004 and is headquartered in Williamsburg, Virginia. For more information, please visit www.sotherlyhotels.com.
CONTACT: Scott Kucinski SoTHERLY Hotels Inc. 410 West Francis Street Williamsburg, Virginia 23185 (757) 229-5648
Source:Sotherly Hotels Inc.