BLUE BELL, PA — BrightView Holdings, Inc. (NYSE: BV), a prominent provider of commercial landscaping services, has announced the declaration of a $8.8 million cash dividend on its Series A Preferred Stock. The dividend, covering the period from December 31, 2024, to March 30, 2025, will be distributed on April 1, 2025, to Series A Preferred Stockholders of record as of March 15, 2025.
This announcement reflects the company’s ongoing financial discipline and commitment to maintaining balance sheet flexibility. The Board’s decision to pay the dividend in cash, rather than through payment-in-kind (PIK), underscores BrightView’s effort to minimize dilution for common shareholders, a core aspect of its capital management strategy.
The Series A Convertible Preferred Stock was first issued on August 28, 2023, when BrightView raised an aggregate $500 million through the sale of 500,000 shares at $1,000 per share. Holders of the Series A Preferred Stock are entitled to a quarterly dividend at an annual rate of 7.0%, which accrues and compounds per quarter. Additionally, the stock offers a conversion feature enabling holders to convert their shares into BrightView common stock at a price of $9.44 per share, providing equity upside for preferred investors.
This $8.8 million quarterly dividend marks the fifth consecutive cash payment BrightView has made since issuing the preferred stock, reflecting operational consistency and financial strength. With its strategic approach to capital allocation and shareholder value preservation, the company continues to bolster investor confidence.
BrightView’s ongoing financial flexibility and disciplined approach to managing obligations position it to maintain focus on its core business operations while upholding its commitment to delivering value to both preferred and common shareholders.
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