Compass Diversified Holdings Declares First Quarter 2020 Distributions on Common and Series A, B and C Preferred Shares
April 02 2020 - 4:15PM
Compass Diversified Holdings (NYSE: CODI) (“CODI” or the Company”),
an owner of leading middle market businesses, announced today that
its Board of Directors (the “Board”) has declared a quarterly cash
distribution of $0.36 per share on the Company’s common shares (the
“Common Shares”). The distribution for the three months ended March
31, 2020 is payable on April 23, 2020 to all holders of record of
Common Shares as of April 16, 2020.
The Board also declared a quarterly cash
distribution of $0.453125 per share on the Company’s 7.250% Series
A Preferred Shares (the “Series A Preferred Shares”). The
distribution on the Series A Preferred Shares covers the period
from, and including, January 30, 2020, up to, but excluding, April
30, 2020. The distribution for such period is payable on April 30,
2020 to all holders of record of Series A Preferred Shares as of
April 15, 2020.
The Board also declared a quarterly cash
distribution of $0.4921875 per share on the Company’s 7.875% Series
B Preferred Shares (the “Series B Preferred Shares”). The
distribution on the Series B Preferred Shares covers the period
from, and including, January 30, 2020, up to, but excluding, April
30, 2020. The distribution for such period is payable on April 30,
2020 to all holders of record of Series B Preferred Shares as of
April 15, 2020.
The Board also declared a quarterly cash
distribution of $0.4921875 per share on the Company’s 7.875% Series
C Preferred Shares (the “Series C Preferred Shares”). The
distribution on the Series C Preferred Shares covers the period
from, and including, January 30, 2020, up to, but excluding, April
30, 2020. The distribution for such period is payable on April 30,
2020 to all holders of record of Series C Preferred Shares as of
April 15, 2020.
“For the 37th consecutive quarter, our Board
declared distributions today on our common stock, at $1.44 per
share annualized, as well as on our Series A, B and C Preferred
Shares,” said Elias Sabo, CEO of Compass Group Diversified Holdings
LLC. “CODI is pleased to have paid a sizable distribution to
shareholders every quarter since our IPO, without reduction, even
during the depths of the financial crisis and now, in this truly
unprecedented time. In total, including today’s declaration, our
distributions to common shareholders will reach nearly $19.32, or
129% of our IPO price. As we highlighted in our letter to
shareholders issued today, with our permanent capital advantage,
balance sheet strength, diverse portfolio of leading middle market
businesses and experienced team, we remain well positioned to
create long-term shareholder value.”
About Compass Diversified Holdings
(“CODI”)CODI owns and manages a diverse family of
established North American middle market businesses. Each of its
current subsidiaries is a leader in its niche market.
CODI maintains controlling ownership interests
in each of its subsidiaries in order to maximize its ability to
impact long-term cash flow generation and value. The company
provides both debt and equity capital for its subsidiaries,
contributing to their financial and operating flexibility. CODI
utilizes the cash flows generated by its subsidiaries to invest in
the long-term growth of the company and to make cash distributions
to its shareholders.
Our eight majority-owned subsidiaries are
engaged in the following lines of business:
- The design and marketing of purpose-built technical apparel and
gear serving a wide range of global customers
(5.11);
- The manufacture of quick-turn, small-run and production rigid
printed circuit boards (Advanced
Circuits);
- The manufacture of engineered magnetic solutions for a wide
range of specialty applications and end-markets (Arnold
Magnetic Technologies);
- The design and marketing of wearable baby carriers, strollers
and related products (Ergobaby);
- The design and manufacture of custom molded protective foam
solutions and OE components (Foam
Fabricators);
- The design and manufacture of premium home and gun safes
(Liberty Safe);
- The manufacture and marketing of portable food warming systems,
creative indoor and outdoor lighting, and home fragrance solutions
for the foodservice industry and consumer markets
(Sterno); and
- The design, manufacture and marketing of airguns, archery
products, optics and related accessories (Velocity
Outdoor).
This press release may contain certain
forward-looking statements, including statements with regard to the
future performance of CODI. Words such as "believes," "expects,"
“anticipates,” “estimate,” "projects," and "future" or similar
expressions, are intended to identify forward-looking statements.
These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. Certain
factors could cause actual results to differ materially from those
projected in these forward-looking statements, and some of these
factors are enumerated in the risk factor discussion in the Form
10-K filed by CODI with the SEC for the year ended December 31,
2019, and other filings with the SEC. Except as required by law,
CODI undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Relations:The IGB Group Leon Berman 212.477.8438
lberman@igbir.com |
Media Contact:Joele Frank, Wilkinson Brimmer KatcherJon Keehner /
Julie Oakes / Kate Thompson212-355-4449 |
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