Business
B. Riley Financial Declares Separate Cash Dividends on 6.875% Series A Preferred Stock and 7.375% Series B Preferred Stock
LOS ANGELES, Oct. 8, 2020 /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. 8, 2020 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) (\"B. Riley\" or the \"Company\") today announced that its Board of Directors has declared a quarterly cash dividend for the Company's 6.875% Series A Cumulative Perpetual Preferred Stock (\"Series A Preferred Stock\"). The Board of Directors also approved an initial cash dividend for the Company's 7.375% Series B Cumulative Perpetual Preferred Stock (\"Series B Preferred Stock\").\n\n \n \n \n \n \n \n\n \nThe Series A preferred stock cash dividend equals $0.42968750 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, 2020 to holders of record as of the close of business on October 21, 2020. The Series A depository shares trade on NASDAQ under the symbol \"RILYP.\"\nThe Company's Board of Directors also approved an initial cash dividend for the Company's 7.375% Series B Cumulative Perpetual Preferred Stock (\"Series B Preferred Stock\"). Trading of the Series B depositary shares commenced on September 4, 2020 on NASDAQ under the symbol \"RILYL.\"\nThe Series B cash dividend equals $0.29193 per depositary share, each representing 1/1000th of a share of the Company's Series B Preferred Stock with a liquidation preference equivalent to $25.00 per depositary share. The dividend will be payable on or about October 31, 2020 to holders of record as of the close of business on October 21, 2020.\nAbout B. Riley Financial, Inc.B. Riley Financial (NASDAQ: RILY) provides collaborative financial services solutions tailored to fit the capital raising, business, operational, and financial advisory needs of its clients and partners. B. Riley operates through several subsidiaries that offer a diverse range of 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. B. Riley also makes proprietary investments in companies and assets with attractive...