Danaher Announces Conversion Date For Series A Mandatory Convertible Preferred Stock

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Danaher Corporation (NYSE: DHR) announced that its 4.75% Series A Mandatory Convertible Preferred Stock will convert into common stock on April 15, 2022. Each share of Preferred Stock will convert at a rate of 6.6632 shares of Common Stock. Holders of record as of March 31, 2022, will also receive a final quarterly cash dividend of $11.875 per share on the Preferred Stock. This move reflects Danaher's commitment to enhancing shareholder value and streamlining capital structure.

Positive

• Automatic conversion of Preferred Stock may lead to increased common stock liquidity.
• Final dividend of $11.875 per share enhances returns for Preferred Stockholders.

Negative

• None.

WASHINGTON, April 12, 2022 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) announced today that its 4.75% Series A Mandatory Convertible Preferred Stock (the "Preferred Stock"), will automatically convert into shares of the Company's Common Stock on April 15, 2022 (the "Conversion Date"). The conversion rate for each share of Preferred Stock will be 6.6632 shares of the Company's Common Stock. Cash will be paid in lieu of fractional shares of Common Stock.

As previously announced, on April 15, 2022 holders of record at the close of business on March 31, 2022 will separately receive a final quarterly cash dividend of $11.875 per share on the Preferred Stock.

ABOUT DANAHER
Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world class brands has leadership positions in the demanding and attractive health care, environmental and applied end-markets. With more than 20 operating companies, Danaher's globally diverse team of approximately 80,000 associates is united by a common culture and operating system, the Danaher Business System, and its Shared Purpose, Helping Realize Life's Potential. For more information, please visit www.danaher.com.

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SOURCE Danaher Corporation

FAQ

What is the conversion rate for Danaher's Preferred Stock to Common Stock?

The conversion rate is 6.6632 shares of Common Stock for each share of Preferred Stock.

When will Danaher's Preferred Stock convert to Common Stock?

The conversion will occur on April 15, 2022.

What dividend will be paid to Preferred Stockholders?

Preferred Stockholders will receive a final quarterly cash dividend of $11.875 per share.

Who is eligible for the dividend on Danaher's Preferred Stock?

Holders of record as of March 31, 2022, will be eligible for the dividend.