Steel Partners Holdings Declares Regular Quarterly Distribution On its Series A Preferred Units

Rhea-AI Summary

Steel Partners Holdings (NYSE: SPLP) has announced a regular quarterly cash distribution of $.375 per unit on its 6% Series A Preferred Units. The distribution will be payable on December 15, 2024, to unitholders of record as of December 1, 2024. Future distributions will remain at the board's discretion, considering factors such as operations results, cash flows, financial position, and capital requirements.

Positive

• Regular quarterly distribution maintained at $0.375 per unit

Negative

• None.

Insights

Financial Analyst

The quarterly dividend announcement of $0.375 per unit for Series A Preferred unitholders represents business as usual for Steel Partners Holdings. With a 6% yield on the preferred units, this routine distribution maintains the company's commitment to its preferred shareholders. The $0.375 quarterly payout equates to $1.50 annually per preferred unit, providing a steady income stream for preferred investors. While the announcement confirms the company's ability to meet its preferred distribution obligations, it's a standard corporate action that doesn't signal any significant changes in the company's financial position or strategy.

NEW YORK--(BUSINESS WIRE)-- Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company, today announced that its board of directors has declared a regular quarterly cash distribution of $.375 per unit, payable December 15, 2024, to unitholders of record as of December 1, 2024, on its 6% Series A Preferred Units, no par value ("Series A Preferred").

Any future determination to declare distributions on the Series A Preferred, and any determination to pay such distributions in cash or in kind, or a combination thereof, will remain at the discretion of Steel Partners' board of directors and will be dependent upon a number of factors, including the company's results of operations, cash flows, financial position, and capital requirements, among others.

About Steel Partners Holdings L.P.

Steel Partners Holdings L.P. (www.steelpartners.com) is a diversified global holding company that owns and operates businesses and has significant interests in various companies, including diversified industrial products, energy, defense, supply chain management and logistics, direct marketing, banking, and youth sports.

Forward-Looking and Cautionary Statements:

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including statements regarding future cash distributions. These statements are based on management's estimates and assumptions with respect to future events, and are believed to be reasonable, though are inherently difficult to predict. The Company cautions that these forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in these forward-looking statements. Undue reliance should, therefore, not be placed on such forward-looking statements. Any forward-looking statements contained in this announcement apply only as at the date of this announcement and are not intended to give any assurance as to future results. Except as otherwise required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances, or any other reason.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241106924720/en/

Jennifer Golembeske

212-520-2300

jgolembeske@steelpartners.com

Source: Steel Partners Holdings L.P.

FAQ

What is the amount of Steel Partners Holdings (SPLP) quarterly distribution for Series A Preferred Units in December 2024?

Steel Partners Holdings (SPLP) declared a quarterly cash distribution of $0.375 per unit on its 6% Series A Preferred Units.

When is the payment date for Steel Partners Holdings (SPLP) Series A Preferred Units distribution?

The distribution will be paid on December 15, 2024, to unitholders of record as of December 1, 2024.

What factors determine future distributions for Steel Partners Holdings (SPLP) Series A Preferred Units?

Future distributions depend on factors including the company's operations results, cash flows, financial position, capital requirements, and board discretion.