Danaher Announces Conversion Date for Series B Mandatory Convertible Preferred Stock

Rhea-AI Summary

Danaher Corporation (NYSE: DHR) announced that its 5.00% Series B Mandatory Convertible Preferred Stock will convert automatically into common stock on April 17, 2023. Shareholders will receive 5.0175 shares of common stock for each share of Preferred Stock. Additionally, a final quarterly cash dividend of $12.50 per share will be distributed to Preferred Stock holders of record as of March 31, 2023, paid on the conversion date of April 17, 2023, due to the prior dividend date falling on a weekend.

This strategic move simplifies capital structure while rewarding investors with equity and dividend payments.

Positive

• Automatic conversion of 5.00% Series B Mandatory Convertible Preferred Stock to common stock may enhance liquidity.
• Final quarterly cash dividend of $12.50 per share reinforces commitment to shareholder value.

Negative

• None.

WASHINGTON, April 10, 2023 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) announced today that its 5.00% Series B Mandatory Convertible Preferred Stock (the "Preferred Stock"), will automatically convert into shares of the Company's common stock on April 17, 2023 (the "Conversion Date"). The conversion rate for each share of Preferred Stock will be 5.0175 shares of the Company's common stock. Cash will be paid in lieu of fractional shares of common stock.

As previously announced, on April 17, 2023 holders of record at the close of business on March 31, 2023 will separately receive a final quarterly cash dividend of $12.50 per share on the Preferred Stock. As the last dividend payment date of April 15, 2023 falls on a Saturday, the dividend will be paid the following business day, on April 17, 2023.

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 81,000 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 date for Danaher's Series B Mandatory Convertible Preferred Stock?

The conversion date is April 17, 2023.

How many shares of common stock will be received for each share of Danaher's Preferred Stock?

Each share of Preferred Stock will convert into 5.0175 shares of common stock.

What is the final cash dividend for Danaher's Preferred Stock?

The final cash dividend is $12.50 per share.

When will the cash dividend for Danaher's Preferred Stock be paid?

The cash dividend will be paid on April 17, 2023.