Sotherly Hotels Inc. Announces Amended Dividend Tax Treatment

Core Viewpoint - Sotherly Hotels Inc. is amending the estimated income tax classification information for its 2024 distributions on Series D preferred shares due to previously incorrect "paid" and "record" dates [1] Distribution Summary Series B Preferred Shares - Total cash distribution per share is $0.500000 for each of the four payment dates, resulting in a total of$2.000000 for 2024, all classified as ordinary income [2] - 100% of the distribution is taxable [2] Series C Preferred Shares - Total cash distribution per share is $0.492188 for each of the four payment dates, leading to a total of$1.968752 for 2024, all classified as ordinary income [3] - 100% of the distribution is taxable [3] Series D Preferred Shares - Total cash distribution per share is $0.515625 for three payment dates, with a total of$2.062500 for 2024, all classified as ordinary income [4] - 100% of the distribution is taxable [4] Tax Reporting - No portion of the dividends declared in 2024 represented foreign taxes or qualified dividend income [5] - Shareholders will receive IRS Form 1099-DIV from Equiniti Trust Company, reporting the dividends paid for 2024 [6] Company Overview - Sotherly Hotels Inc. is a self-managed and self-administered lodging REIT focused on acquiring, renovating, and repositioning upscale to upper-upscale full-service hotels in the Southern United States [8] - The company's portfolio includes twelve hotel properties with a total of 2,786 rooms, as well as interests in two condominium hotels [8] - The company operates hotels under brands such as Hilton, Marriott, and Hyatt, and was organized in 2004, headquartered in Williamsburg, Virginia [8]