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

Rhea-AI Summary

Steel Partners Holdings L.P. (NYSE: SPLP) has announced a quarterly cash distribution of $.375 per unit for its 6% Series A Preferred Units. This payment is scheduled for March 15, 2023, to unitholders of record as of March 1, 2023. The decision to declare future distributions will depend on various factors, including the company's operational results, cash flows, and financial position. Steel Partners is a diversified global holding company with interests in multiple sectors such as industrial products, energy, and logistics.

Positive

• Quarterly cash distribution of $.375 per unit announced, providing income to preferred unit holders.
• Distribution reflects the company's ability to generate cash flow and maintain financial stability.

Negative

• Future distributions are at the discretion of the board, indicating potential uncertainty in consistent payouts.

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 March 15, 2023, to unitholders of record as of March 1, 2023, on its 6% Series A Preferred Units, no par value ("Series A Preferred").

Any future determination to declare distributions on its units of 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230217005260/en/

For more information:

Jennifer Golembeske

212-520-2300

jgolembeske@steelpartners.com

Source: Steel Partners Holdings L.P.

FAQ

What is the quarterly distribution amount announced by SPLP?

Steel Partners Holdings L.P. announced a quarterly cash distribution of $.375 per unit.

When will SPLP make the cash distribution to unitholders?

The cash distribution will be payable on March 15, 2023.

Who is eligible for the cash distribution from SPLP?

Unitholders of record as of March 1, 2023, are eligible for the cash distribution.

What are the factors influencing future distributions by SPLP?

Future distributions will depend on operational results, cash flows, financial position, and capital requirements.