B. Riley Financial Declares Preferred Stock Dividends

Rhea-AI Summary

B. Riley Financial, Inc. (RILY) declares cash dividends on its 6.875% Series A Cumulative Perpetual Preferred Stock (RILYP) and its 7.375% Series B Cumulative Perpetual Preferred Stock (RILYL). Each depositary share represents 1/1000th fractional interest in a share of the respective Preferred Stock with a liquidation preference equivalent to $25.00 per depositary share. The 6.875% Series A Preferred Stock cash dividend equals $0.42968750 per depositary share, and the 7.375% Series B Preferred Stock cash dividend equals $0.4609375 per depositary share.

Insights

Financial Analyst

The declaration of cash dividends on B. Riley Financial Inc.'s Preferred Stock is a tangible indicator of the company's current financial health and its ability to generate cash flow. Dividends are often seen as a sign of financial stability and a company's confidence in its ongoing profitability. In this case, the dividends for the Series A and Series B Preferred Stock are set at 6.875% and 7.375%, respectively. These rates are quite competitive when compared to average dividend yields in the financial sector, potentially making B. Riley's preferred shares an attractive investment for income-focused investors.

It is important to note that preferred stocks sit between debt and common equity in a company's capital structure. They typically offer higher dividend yields than common stock, with less volatility, but they also tend to have less potential for capital appreciation. For B. Riley, maintaining regular and attractive dividend payments on its preferred shares may also serve as a strategic move to appeal to a broader investor base, particularly those looking for steady income streams in a low-interest-rate environment.

Market Research Analyst

The announcement of dividend payments can also have implications for market perception and B. Riley's stock market performance. Dividends are a factor in the total shareholder return, contributing to the attractiveness of a stock alongside potential capital gains. In the case of B. Riley, the payment of dividends on preferred stock could signal to the market that management is committed to delivering value to shareholders, which might positively influence the stock's desirability among investors.

Additionally, the specific dividend rates announced could be compared to industry standards and benchmarks such as the S&P 500 average dividend yield. If B. Riley's dividend yields are higher, this could set the company apart from its competitors, potentially attracting investors who are seeking higher-yielding securities in the financial sector. However, investors also need to consider the sustainability of such dividend payments, which will depend on B. Riley's long-term financial performance and market conditions.

LOS ANGELES , Jan. 9, 2024 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company") has declared cash dividends on its 6.875% Series A Cumulative Perpetual Preferred Stock (NASDAQ: RILYP) and its 7.375% Series B Cumulative Perpetual Preferred Stock (NASDAQ: RILYL) (collectively, the "Preferred Stock"), each series of which is represented by depositary shares. Each depositary share represents 1/1000th fractional interest in a share of the respective Preferred Stock with a liquidation preference equivalent to $25.00 per depositary share.

The 6.875% Series A Preferred Stock cash dividend equals $0.42968750 per depositary share.

The 7.375% Series B Preferred Stock cash dividend equals $0.4609375 per depositary share.

The Preferred Stock dividends will be payable on or about January 31, 2024 to respective Series A and Series B holders of record as of the close of business on January 22, 2024.

About B. Riley Financial
B. Riley Financial is a diversified financial services platform that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. B. Riley leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its affiliated subsidiaries, B. Riley provides end-to-end, collaborative financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services. B. Riley opportunistically invests to benefit its shareholders, and certain affiliates originate and underwrite senior secured loans for asset-rich companies. B. Riley refers to B. Riley Financial, Inc. and/or one or more of its subsidiaries or affiliates. For more information, please visit www.brileyfin.com.

Contact
Investors
Mike Frank
ir@brileyfin.com
(212) 409-2424

Media
Jo Anne McCusker
press@brileyfin.com
(646) 885-5425

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SOURCE B. Riley Financial

FAQ

What dividends has B. Riley Financial, Inc. declared?

B. Riley Financial, Inc. has declared cash dividends on its 6.875% Series A Cumulative Perpetual Preferred Stock (RILYP) and its 7.375% Series B Cumulative Perpetual Preferred Stock (RILYL).

What is the cash dividend for the 6.875% Series A Preferred Stock?

The cash dividend for the 6.875% Series A Preferred Stock equals $0.42968750 per depositary share.

What is the cash dividend for the 7.375% Series B Preferred Stock?

The cash dividend for the 7.375% Series B Preferred Stock equals $0.4609375 per depositary share.