Ault Alliance Announces Twenty-Four Consecutive Monthly Cash Dividend Payments Timely Paid for Series D Preferred Stock

Rhea-AI Summary

Ault Alliance announced the successful payment of its twenty-fourth consecutive monthly cash dividend for its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock. The dividends are cumulative, paid at a rate of 13.00% per annum per $25.00 of stated liquidation preference per share, equating to $0.2708333 per share per month. Founder and Executive Chairman, Milton “Todd” Ault III, emphasized the company's unwavering commitment to its dividend payments, aiming to enhance its credit profile and support growth in its AI data center and crane business within the energy segment.

Positive

• Payment of 24 consecutive monthly dividends, indicating reliability.
• 13.00% annual dividend rate on Series D Preferred Stock.
• $0.2708333 per share monthly dividend.
• Commitment to long-term dividend payments enhances credit profile.
• Focus on growing cash flow from AI data centers and crane business in the energy segment.

Negative

• No mention of common stock dividend payments, which may concern common shareholders.
• Reliance on legally available funds for dividend payments, which may indicate potential financial limitations.

LAS VEGAS--(BUSINESS WIRE)-- Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced the successful payment of the twenty-fourth consecutive monthly cash dividend for its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”). Dividends on the Series D Preferred Stock are cumulative and are payable out of amounts legally available therefor at a rate equal to 13.00% per annum per $25.00 of stated liquidation preference per share, or $0.2708333 per share of Series D Preferred Stock per month.

Milton “Todd” Ault III, Founder and Executive Chairman of the Company, stated, “We are proud of the Company’s progress and the fact that the Company has never missed a dividend payment for the life of the Series D Preferred Stock. This achievement not only reflects our commitment to the long-term nature of the preferred dividend but is expected to enhance the Company’s credit profile. Looking ahead, this accomplishment provides a long-term track record of meeting our commitments, which we hope will enable us to grow our cash flow producing artificial intelligence data center operations and our crane business within our energy business segment. We will continue to update the market and our stockholders as we make further advancements.”

Link to NYSE quote for the Series D Preferred Stock: https://www.nyse.com/quote/XASE:AULTpD

For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or available at www.sec.gov.

About Ault Alliance, Inc.

Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240611122555/en/

Ault Alliance Investor Contact:

IR@Ault.com or 1-888-753-2235

Source: Ault Alliance, Inc.

FAQ

What is the dividend rate for Ault Alliance's Series D Preferred Stock?

The dividend rate for Ault Alliance's Series D Preferred Stock is 13.00% per annum.

How much is the monthly dividend per share for Ault Alliance's Series D Preferred Stock?

The monthly dividend per share for Ault Alliance's Series D Preferred Stock is $0.2708333.

How many consecutive monthly dividends has Ault Alliance paid for its Series D Preferred Stock?

Ault Alliance has paid 24 consecutive monthly dividends for its Series D Preferred Stock.

What is the importance of Ault Alliance's consistent dividend payments for Series D Preferred Stock?

Consistent dividend payments for Series D Preferred Stock enhance Ault Alliance's credit profile and demonstrate its commitment to shareholders.

What future growth areas is Ault Alliance focusing on?

Ault Alliance is focusing on growing its AI data center operations and crane business within its energy segment.