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News  ›  GlobeNewswire Inc.

Sotherly Hotels Inc. Announces Deferral of Payment of Preferred Dividends

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Sotherly Hotels Inc.
Sotherly Hotels Inc. Announces Deferral of Payment of Preferred Dividends

Sotherly Hotels Inc. announced it is deferring preferred stock dividend payments and suspending future preferred stock dividends. The company is being acquired by a joint venture backed by Kemmons Wilson Hospitality Partners and Ascendant Capital Partners for $2.25 per share in cash.

Insights
SOHO   negative

Company is suspending dividend payments, which typically signals financial challenges, and is being acquired, suggesting potential strategic or financial difficulties