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Star Equity Holdings, Inc. Declares Cash Dividend of $0.25 Per Share of 10% Series A Cumulative Perpetual Preferred Stock

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Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) announced a dividend of $0.25 per share for its 10% Series A Cumulative Perpetual Preferred Stock. The record date for this dividend is June 1, 2021, with payment scheduled for June 11, 2021. This decision reflects the Company's commitment to returning value to its shareholders while managing its diverse operations across Healthcare, Construction, and Investments. The Company emphasizes its focus on growth despite the inherent risks associated with its significant debt obligations.

Positive
  • Dividend declaration of $0.25 per share signifies a commitment to shareholder returns.
  • Diverse business operations may provide stability and growth opportunities.
Negative
  • Significant debt may impact cash flow and limit future growth opportunities.
  • Continued payment of dividends could strain financial resources.

OLD GREENWICH, Conn., May 26, 2021 (GLOBE NEWSWIRE) -- Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) (“Star Equity” or the “Company”), a diversified, multi-industry holding company with three business divisions, Healthcare, Construction, and Investments, announced today that its Board of Directors (the “Board”) declared a cash dividend to holders of the Company’s 10% Series A Cumulative Perpetual Preferred Stock of $0.25 per share. The record date for this dividend is June 1, 2021, and the payment date is June 11, 2021.

About Star Equity Holdings, Inc.

Star Equity Holdings, Inc. is a diversified holding entity with three divisions: Healthcare, Construction, and Investments.

Healthcare

Our Healthcare division designs, manufactures, and distributes diagnostic medical imaging products and provides mobile imaging services. Our Healthcare division operates in two businesses: (i) diagnostic services and (i) diagnostic imaging. The diagnostic services business offers imaging services to healthcare providers as an outsourced alternative to purchasing and operating their own equipment. The diagnostic imaging business develops, sells, and maintains solid-state gamma cameras.

Construction

Our Construction division manufactures modular housing units for commercial and residential real estate projects and operates in two businesses: (i) modular building manufacturing and (ii) structural wall panel and wood foundation manufacturing, including building supply distribution operations for professional builders.

Investments

Our Investments division manages and finances the Company and affiliate’s real estate assets and investments.

Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release that are not statements of historical fact are hereby identified as “forward-looking statements” for the purpose of the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking Statements include, without limitation, statements regarding the plans and objectives of management for future operations. Moreover, forward-looking statements necessarily involve assumptions on the Company’s part. These forward-looking statements generally are identified by the words “believe”, “expect”, “anticipate”, “estimate”, “project”, “intend”, “plan”, “should”, “may”, “will”, “would”, “will be”, “will continue” or similar expressions. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described above as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the substantial amount of debt of the Company and the Company’s ability to repay or refinance it or incur additional debt in the future; the Company’s need for a significant amount of cash to service and repay the debt and to pay dividends on the Company’s preferred stock; the restrictions contained in the debt agreements that limit the discretion of management in operating the business; legal, regulatory, political and economic risks in markets and public health crises that reduce economic activity and cause restrictions on operations (including the recent coronavirus COVID-19 outbreak); insufficient cash flows and resulting lack of liquidity; risks to preferred stockholders of not receiving dividends and risks to the Company’s ability to pursue growth opportunities if the Company continues to pay dividends according to the terms of the Company’s preferred stock; the Company’s ability to execute on its business strategy (including any cost reduction plans). For a detailed discussion of cautionary statements and risks that may affect the Company’s future results of operations and financial results, please refer to the Company’s filings with the Securities and Exchange Commission, including, but not limited to, the risk factors in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. This release reflects management’s views as of the date presented.

All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, therefore, you are cautioned not to place undue reliance on such statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

For more information contact: 
Star Equity Holdings, Inc.The Equity Group
Jeffrey E. EberweinLena Cati
Executive ChairmanVice President
203-489-9501212-836-9611
admin@starequity.comlcati@equityny.com

FAQ

What is the dividend amount announced by Star Equity Holdings for 2021?

Star Equity Holdings announced a dividend of $0.25 per share.

When is the record date for Star Equity Holdings' dividend?

The record date for the dividend is June 1, 2021.

What is the payment date for the dividend declared by Star Equity Holdings?

The payment date for the dividend is June 11, 2021.

What ticker symbols are associated with Star Equity Holdings?

The ticker symbols for Star Equity Holdings are STRR for common stock and STRRP for preferred stock.

What are the main business divisions of Star Equity Holdings?

Star Equity Holdings operates in three main divisions: Healthcare, Construction, and Investments.

Star Equity Holdings, Inc.

NASDAQ:STRR

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Diagnostics & Research
Electromedical & Electrotherapeutic Apparatus
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United States of America
OLD GREENWICH