Compass Diversified Holdings Declares Second Quarter 2020 Distributions on Common and Series A, B and C Preferred Shares
July 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 June
30, 2020 is payable on July 23, 2020 to all holders of record of
Common Shares as of July 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, April 30, 2020, up to, but excluding, July 30,
2020. The distribution for such period is payable on July 30, 2020
to all holders of record of Series A Preferred Shares as of July
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, April 30, 2020, up to, but excluding, July 30,
2020. The distribution for such period is payable on July 30, 2020
to all holders of record of Series B Preferred Shares as of July
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, April 30, 2020, up to, but excluding, July 30,
2020. The distribution for such period is payable on July 30, 2020
to all holders of record of Series C Preferred Shares as of July
15, 2020.
“Our Board is pleased to declare a quarterly
cash distribution of $0.36 per share on our Common Shares, as well
as distributions on our Series A, B and C Preferred Shares,” said
Elias Sabo, CEO of Compass Group Diversified Holdings LLC. “CODI
has paid a sizable distribution to shareholders each quarter as a
publicly-listed company, and we are proud to continue delivering
value to our shareholders during this time. Our unique permanent
capital structure and strong cash flows stemming from a truly
diverse portfolio of nine subsidiaries allows us to effectively
adapt to evolving market conditions and provide distributions in
economic booms and recessions alike. With strategic capital, an
experienced team and deep sector expertise, we remain committed to
working proactively with our management teams to position our
subsidiaries for success in the months and years to come, and we
look forward to continuing to drive 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 nine 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 design and manufacture of baseball and softball equipment
and apparel (Marucci Sports);
- 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: |
Media
Contact: |
The IGB Group |
Joele Frank, Wilkinson Brimmer Katcher |
Leon Berman |
Jon Keehner / Julie Oakes / Kate Thompson |
212.477.8438 |
212-355-4449 |
lberman@igbir.com |
|
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