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

Rhea-AI Summary

Steel Partners Holdings L.P. (NYSE: SPLP) has declared a regular quarterly cash distribution of $0.375 per unit, scheduled for March 15, 2021, to unitholders on record as of March 1, 2021, for its 6% Series A Preferred Units. Future distribution payments will be determined by the board of directors based on various factors including operational results, cash flow, financial position, and capital requirements.

Positive

• Quarterly cash distribution of $0.375 per unit enhances investor returns.

Negative

• Future distributions are subject to board discretion, which may create uncertainty for investors.

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, 2021, to unitholders of record as of March 1, 2021, 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/20210211005922/en/

FAQ

What is the cash distribution announced by Steel Partners Holdings L.P. (SPLP) for March 2021?

Steel Partners Holdings L.P. declared a cash distribution of $0.375 per unit for its 6% Series A Preferred Units.

When will the cash distribution for SPLP be paid?

The cash distribution will be paid on March 15, 2021.

Who is eligible for the cash distribution from Steel Partners (SPLP)?

Unitholders of record as of March 1, 2021, are eligible for the cash distribution.

Can Steel Partners Holdings L.P. (SPLP) change future distributions?

Yes, future distributions are at the discretion of the board of directors and may vary based on financial factors.