1847 Holdings Announces Plan to Double Quarterly Dividend

Rhea-AI Summary

1847 Holdings (EFSH) announced plans to increase its quarterly dividend from $0.05 to $0.10 per share, coinciding with its uplisting to a national securities exchange. This decision reflects management's confidence, driven by a strong revenue base and an improved balance sheet. The company attributes its progress to a $25 million institutional financing completed in October 2021, allowing for strategic reinvestment in subsidiaries and operational improvements. The dividend hike underscores the firm’s commitment to rewarding shareholders as it navigates diverse market opportunities.

Positive

• Increase in quarterly dividend from $0.05 to $0.10 per share.
• Strengthened balance sheet and growing revenue base.
• Successful $25 million institutional financing for strategic reinvestment.

Negative

• None.

The Company plans to increase its quarterly dividend to $0.10 per share in conjunction with its planned uplisting to a national securities exchange

NEW YORK, Feb. 02, 2022 (GLOBE NEWSWIRE) -- 1847 Holdings LLC (OTCQB: EFSH) (“1847 Holdings” or the “Company”), a publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced its plans to increase its quarterly dividend from $0.05 to to $0.10 per share in conjunction with its planned uplisting to a national securities exchange.

“Our track record of success, combined with a growing revenue base and strengthening balance sheet gives us strong confidence in our ability to achieve our goal of listing on the NYSE American,” commented Ellery W. Roberts, CEO of 1847 Holdings. “As we continue to execute, both at the holding company level and through our subsidiaries, capitalizing on opportunities in diverse and exciting markets, we remain steadfastly committed to following through on our mission to share our success with our shareholders and look forward to delivering on our plan to double our quarterly dividend to $0.10 per share upon completing our planned listing on a national securities exchange.”

“Our path to achieving these major milestones was bolstered significantly through the $25 million institutional financing we completed in October 2021,” continued Roberts. “This was an absolute game changer for our company. Securing funding at the holding company level has given us the flexibility to strategically re-invest cash into our subsidiaries to maximize operational improvements and accelerate growth of each business segment, incrementally building cash flow as we continue to execute on our buy and build strategy.”

About 1847 Holdings LLC

1847 Holdings LLC (OTCQB: EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue and Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders.

Forward-Looking Statements

This press release may contain information about 1847 Holdings’ view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management’s beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in “Risk Factors” included in our SEC filings.

Contact:

Ellery W. Roberts, Founder & CEO
1847 Holdings LLC
Office: 212.417.9800
info@1847holdings.com

Dave Gentry, CEO
RedChip Companies
Office: 1.800.RED.CHIP (733.2447)
Cell: 407.491.4498
dave@redchip.com

FAQ

What is the new dividend amount for EFSH?

The new dividend amount for EFSH is $0.10 per share.

When will the new dividend for EFSH be effective?

The new dividend will be effective upon the company's uplisting to a national securities exchange.

What factors led to the dividend increase for EFSH?

The increase is attributed to a strong revenue base, improved balance sheet, and a successful $25 million financing round.

How has the $25 million financing affected EFSH?

The financing has provided EFSH with the flexibility for strategic reinvestments and operational improvements across its subsidiaries.

What is EFSH's plan regarding its national securities exchange uplisting?

EFSH plans to uplist to a national securities exchange, which is expected to support its growth and dividend increase strategy.