Sotherly Hotels Inc. (NASDAQ:SOHO) Q4 2023 Earnings Call Transcript

We need to really put that at the forefront and hopefully as that unfolds in a positive fashion, we can take a look at the preferred dividend and getting that caught back up further.

Unidentified Analyst: Would that mean that you do not anticipate an additional preferred dividend, an extra preferred dividend this year?

Scott Kucinski: We can’t tell you when we prefer and what we consider a potential future payment. Again, our goal is to get it repaid but we need to really see how the debt markets move and move in our favor here in the short term. I think that’s a critical focus for all commercial real estate companies right now. And as we get a better visibility on that, better visibility on interest rates being reduced by the Fed, we’ll have a better understanding of what our free cash flow is and potential to repay and prefer dividend.

Operator: I think we do not have any further questions, so I would like to hand the call back to Dave Folsom, Chief Executive Officer for closing remarks. Dave, over to you.

Dave Folsom: Thank you, operator. And thank you everyone for joining and listening in today. We look forward to speaking with everybody again on our next quarterly call.

Operator: Ladies and gentlemen, this concludes today’s call. Thank you for joining. You may now disconnect your lines. Thank you.