BLUE BELL, PA — BrightView Holdings, Inc. has announced a $9.0 million cash dividend for its Series A Preferred Stock, covering the period from June 30, 2024, to September 29, 2024.
The dividend is set to be distributed on October 1, 2024, to shareholders recorded by September 15, 2024. This marks the third consecutive quarterly cash dividend, emphasizing the company’s strategic financial management and commitment to minimizing dilution through cash rather than payment-in-kind dividends.
In August 2023, BrightView issued 500,000 shares of Series A Convertible Preferred Stock, raising $500 million. These shares are convertible into common stock at a price of $9.44 per share and yield a 7.0% annual dividend, paid quarterly either in cash or in kind. This financial strategy underlines BrightView’s strong balance sheet flexibility and its approach to enhancing shareholder value.
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