Business
B. Riley Financial Declares Cash Dividend on 6.875% Series A Preferred Stock
LOS ANGELES, Oct. 15, 2019 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company") today announced that its Board of Directors
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"LOS ANGELES, Oct. 15, 2019 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) (\"B. Riley\" or the \"Company\") today announced that its Board of Directors has approved an initial cash dividend for the Company's 6.875% Series A Cumulative Perpetual Preferred Stock (\"Series A Preferred Stock\"). Trading of the depositary shares commenced on October 8, 2019 on NASDAQ under the symbol \"RILYP.\" \n\n \nThe cash dividend equals $0.11458333 per depositary share, each representing 1/1000th of a share of the Company's Series A Preferred Stock with a liquidation preference equivalent to $25.00 per depositary share. The dividend will be payable on or about October 31, 2019 to holders of record as of the close of business on October 21, 2019.\nAbout B. Riley Financial, Inc. (NASDAQ:RILY)B. Riley Financial provides collaborative financial services tailored to fit the capital raising and business advisory needs of public and private companies and high-net-worth individuals. B. Riley operates through several wholly-owned subsidiaries which offer complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, corporate advisory, restructuring, due diligence, forensic accounting and litigation support, appraisal and valuation, and auction and liquidation services. Certain registered affiliates of B. Riley originate and underwrite senior secured loans for asset-rich companies. The Company also makes proprietary investments in companies and assets with attractive return profiles.\nForward-Looking StatementsStatements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of the date of this press release. Such forward looking statements include, but are not limited to, statements regarding the terms and conditions and timing of the preferred stock offering and the intended use of ...