Sotherly Hotels Up 20% as It Resumes Preferred Dividends

By Josh Beckerman

Shares of Sotherly Hotels Inc. rose 20% to $2.25 as it reinstated quarterly preferred stock dividends, which it said was facilitated by the continued recovery of operating fundamentals.

The company suspended its common and preferred dividends in March 2020 as part of its Covid-19-related cost-saving measures.