BLUE BELL, PA — BrightView Holdings, Inc. (NYSE: BV) has announced that its Board of Directors has declared a $9.0 million cash dividend on its Series A Preferred Stock.
This dividend covers the period from September 30, 2024, to December 30, 2024, and is scheduled for payment on January 2, 2025, to holders of record as of December 15, 2024. This marks the fourth consecutive quarterly cash dividend, reflecting BrightView’s focus on maintaining balance sheet flexibility while avoiding the dilutive effects of payment in kind.
In August 2023, BrightView issued and sold 500,000 shares of its Series A Convertible Preferred Stock for a total purchase price of $500 million. The Series A Preferred Stock, which carries a 7.0% annual dividend rate compounded quarterly, is convertible into BrightView common stock at a conversion price of $9.44 per share. Dividends may be paid in kind or in cash, at the Company’s discretion.
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