Spark Energy, Inc. Announces Dividend on Common and Preferred Stock

Rhea-AI Summary

Spark Energy (NASDAQ:SPKE) has declared a quarterly cash dividend of $0.18125 per share for its Class A Common Stock for Q3 2020, translating to an annualized rate of $0.725 per share. This dividend will be distributed on December 15, 2020, to shareholders of record on December 1, 2020. Additionally, for its 8.75% Series A Preferred Stock, a dividend of $0.546875 per share has been announced, with an annualized rate of $2.1875. This payment is scheduled for January 15, 2021, to holders on record as of January 1, 2021.

Positive

• Declaring a quarterly cash dividend of $0.18125 per share may enhance shareholder confidence.
• The annualized dividend of $0.725 per share demonstrates consistency in cash returns to investors.

Negative

• None.

HOUSTON, TX, / ACCESSWIRE / October 19, 2020 / Spark Energy, Inc. ("Spark" or the "Company") (NASDAQ:SPKE), an independent retail energy services company, announced today that its Board of Directors has declared a quarterly cash dividend for the third quarter of 2020 in the amount of $0.18125 per share on its Class A Common Stock. This amount represents an annualized dividend of $0.725 per share. The third quarter dividend will be paid on December 15, 2020 to holders of record of Spark's Class A Common Stock on December 1, 2020.

Additionally, in accordance with the terms of the 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock ("Series A Preferred Stock") of the Company, the Board of Directors has declared a quarterly cash dividend in the amount of $0.546875 per share on the Series A Preferred Stock. This amount represents an annualized dividend of $2.1875 per share. The dividend will be paid on January 15, 2021 to holders of record of Spark's Series A Preferred Stock on January 1, 2021.

About Spark Energy, Inc.

Spark Energy, Inc. is an independent retail energy services company founded in 1999 that provides residential and commercial customers in competitive markets across the United States with an alternative choice for their natural gas and electricity. Headquartered in Houston, Texas, Spark currently operates in 20 states and serves 101 utility territories. Spark offers its customers a variety of product and service choices, including stable and predictable energy costs and green product alternatives.

We use our website as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. Investors should note that new materials, including press releases, updated investor presentations, and financial and other filings with the Securities and Exchange Commission are posted on the Spark Energy Investor Relations website at ir.sparkenergy.com. Investors are urged to monitor our website regularly for information and updates about the Company.

Contact: Spark Energy, Inc.

Investors:
Mike Barajas, 832-200-3727

Media:
Kira Jordan, 832-255-7302

SOURCE: Spark Energy, Inc. via EQS Newswire

View source version on accesswire.com:
https://www.accesswire.com/611140/Spark-Energy-Inc-Announces-Dividend-on-Common-and-Preferred-Stock

FAQ

What is the dividend amount declared by Spark Energy for Q3 2020?

The dividend amount declared for Q3 2020 is $0.18125 per share.

When will Spark Energy's Q3 2020 dividend be paid?

The Q3 2020 dividend will be paid on December 15, 2020.

What is the annualized dividend for Spark Energy's preferred stock?

The annualized dividend for the Series A Preferred Stock is $2.1875 per share.

When is the payment date for Spark Energy's preferred stock dividend?

The payment date for the preferred stock dividend is January 15, 2021.