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Via Renewables, Inc. Announces Dividend on Preferred Stock

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Via Renewables (NASDAQ:VIA)(NASDAQ:VIASP) has announced a quarterly cash dividend of $0.71847 per share on its 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock. The dividend will be paid on January 15, 2025 to shareholders of record as of January 1, 2025. The company also noted that the floating rate period for the Series A Preferred Stock began on April 15, 2022.

Following the end of Three-Month LIBOR's publication on June 30, 2023, the replacement benchmark rate for the Series A Preferred Stock is now Three-Month CME Term SOFR, plus a tenor spread adjustment of 0.26161%. This change is in accordance with the Adjustable Interest Rate (LIBOR) Act and regulations by the Federal Reserve System.

Via Renewables (NASDAQ:VIA)(NASDAQ:VIASP) ha annunciato un dividendo in contante trimestrale di $0.71847 per azione sulle sue azioni privilegiate cumulative rimborsabili perpetue a tasso fisso variabile del 8,75% di Serie A. Il dividendo sarà pagato il 15 gennaio 2025 agli azionisti registrati al 1° gennaio 2025. L'azienda ha inoltre sottolineato che il periodo a tasso variabile per le azioni privilegiate di Serie A è iniziato il 15 aprile 2022.

Dopo la conclusione della pubblicazione del LIBOR a Tre Mesi il 30 giugno 2023, il tasso di riferimento sostitutivo per le azioni privilegiate di Serie A è ora il Three-Month CME Term SOFR, più un aggiustamento dello spread di durata del 0,26161%. Questa modifica è in conformità con la legge sul tasso di interesse variabile (LIBOR) e le normative del Federal Reserve System.

Via Renewables (NASDAQ:VIA)(NASDAQ:VIASP) ha anunciado un dividendo en efectivo trimestral de $0.71847 por acción sobre sus acciones preferentes acumulativas redimibles perpetuas de la Serie A con tasa fija que varía al 8.75%. El dividendo se pagarà el 15 de enero de 2025 a los accionistas registrados al 1 de enero de 2025. La compañía también señaló que el período de tasa flotante para las acciones preferentes de la Serie A comenzó el 15 de abril de 2022.

Tras el final de la publicación del LIBOR a Tres Meses el 30 de junio de 2023, la tasa de referencia de sustitución para las acciones preferentes de la Serie A es ahora el Three-Month CME Term SOFR, más un ajuste de diferencial de plazo del 0.26161%. Este cambio está de acuerdo con la Ley de Tasa de Interés Ajustable (LIBOR) y las regulaciones del Sistema de la Reserva Federal.

Via Renewables (NASDAQ:VIA)(NASDAQ:VIASP)는 8.75% 고정 변동형 누적 상환 영구 우선주 시리즈 A에 대해 주당 $0.71847의 분기 현금 배당금을 발표했습니다. 이 배당금은 2025년 1월 15일에 2025년 1월 1일 기준 주주에게 지급될 예정입니다. 또한 회사는 시리즈 A 우선주의 변동 금리 기간이 2022년 4월 15일에 시작되었다고 언급했습니다.

2023년 6월 30일 LIBOR 3개월 의 발표 종료 후, 시리즈 A 우선주에 대한 대체 기준 금리는 현재 Three-Month CME Term SOFR이며, 여기에 0.26161%의 만기 스프레드 조정이 추가됩니다. 이 변경은 조정 가능한 금리(LIBOR) 법 및 연방 준비 시스템의 규정에 따라 이루어진 것입니다.

Via Renewables (NASDAQ:VIA)(NASDAQ:VIASP) a annoncé un dividende en espèces trimestriel de 0,71847 $ par action sur ses actions privilégiées cumulables à taux fixe variable de Série A de 8,75 %. Le dividende sera versé le 15 janvier 2025 aux actionnaires inscrits au 1er janvier 2025. La société a également indiqué que la période de taux flottant pour les actions privilégiées de Série A a commencé le 15 avril 2022.

Suite à la fin de la publication du LIBOR à trois mois le 30 juin 2023, le taux de référence de remplacement pour les actions privilégiées de Série A est maintenant le Three-Month CME Term SOFR, plus un ajustement d'écart de durée de 0,26161 %. Ce changement est conforme à la loi sur les taux d'intérêt ajustables (LIBOR) et aux règlements de la Réserve fédérale.

Via Renewables (NASDAQ:VIA)(NASDAQ:VIASP) hat eine vierteljährliche Barzahlung von Dividenden in Höhe von $0,71847 pro Aktie auf seine 8,75 % Serie A kumulativ umwandelbaren Vorzugsaktien mit festem auf variablem Zinssatz angekündigt. Die Dividende wird am 15. Januar 2025 an die Aktionäre ausgezahlt, die am 1. Januar 2025 im Aktienregister stehen. Das Unternehmen stellte außerdem fest, dass die Laufzeit der variablen Zinsen für die Vorzugsaktien der Serie A am 15. April 2022 begonnen hat.

Nachdem die Veröffentlichung des Drei-Monats LIBOR am 30. Juni 2023 beendet wurde, beträgt der Ersatz-Benchmark-Zinssatz für die Vorzugsaktien der Serie A jetzt Three-Month CME Term SOFR zuzüglich einer Laufzeitspreisanpassung von 0,26161 %. Diese Änderung erfolgt gemäß dem Adjustable Interest Rate (LIBOR) Act und den Vorschriften des Federal Reserve Systems.

Positive
  • Consistent dividend payment to preferred shareholders
  • Adaptation to new benchmark rate following LIBOR discontinuation
Negative
  • None.

HOUSTON, TX / ACCESSWIRE / October 16, 2024 / Via Renewables, Inc. ("Via Renewables" or the "Company") (NASDAQ:VIA)(NASDAQ:VIASP), an independent retail energy services company, announced today that, 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 $0.71847 per share on the Series A Preferred Stock. The dividend will be paid on January 15, 2025 to holders of record of Via Renewables' Series A Preferred Stock on January 1, 2025. The floating rate period for the Series A Preferred Stock began on April 15, 2022.

In accordance with the Adjustable Interest Rate (LIBOR) Act (the "LIBOR Act") and the final regulations promulgated pursuant thereto by the Board of Governors of the Federal Reserve System ("Board"), the LIBOR Act specifies that the replacement benchmark rate on the Series A Preferred Stock following Three-Month LIBOR's end of publication on June 30, 2023 is Three-Month CME Term SOFR, as administered by CME Group Benchmark Administration, Ltd. (or any successor administrator), plus a tenor spread adjustment of 0.26161%.

About Via Renewables, Inc.

Via Renewables, 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 under our well-established and well-regarded brands, including Spark Energy, Major Energy, Provider Power, and Verde Energy. Headquartered in Houston, Texas, Via Renewables currently operates in 20 states and serves 103 utility territories. Via Renewables 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 Via Renewables Investor Relations website at ViaRenewables.com. Investors are urged to monitor our website regularly for information and updates about the Company.

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements that are subject to a number of risks and uncertainties, many of which are beyond our control. These forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), can be identified by the use of forward-looking terminology including "may," "should," "could," "likely," "will," "believe," "expect," "anticipate," "estimate," "continue," "plan," "intend," "project," or other similar words. All statements, other than statements of historical fact, included in this press release are forward-looking statements. The forward-looking statements include statements regarding the impacts of Winter Storm Uri, cash flow generation and liquidity, business strategy, prospects for growth and acquisitions, outcomes of legal proceedings, the timing, availability, ability to pay and amount of cash dividends on our Series A Preferred Stock, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans, objectives, beliefs of management, availability and terms of capital, competition, government regulation and general economic conditions. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot give any assurance that such expectations will prove correct.

The forward-looking statements in this press release are subject to risks and uncertainties. Important factors that could cause actual results to materially differ from those projected in the forward-looking statements include, but are not limited to:

  • the ultimate impact of the Winter Storm Uri, including future benefits or costs related to ERCOT market securitization efforts, and any corrective action by the State of Texas, ERCOT, the Railroad Commission of Texas, or the Public Utility Commission of Texas;

  • changes in commodity prices, the margins we achieve, and interest rates;

  • the sufficiency of risk management and hedging policies and practices;

  • the impact of extreme and unpredictable weather conditions, including hurricanes, heat waves and other natural disasters;

  • federal, state and local regulations, including the industry's ability to address or adapt to potentially restrictive new regulations that may be enacted by public utility commissions;

  • our ability to borrow funds and access credit markets;

  • restrictions and covenants in our debt agreements and collateral requirements;

  • credit risk with respect to suppliers and customers;

  • our ability to acquire customers and actual attrition rates;

  • changes in costs to acquire customers;

  • accuracy of billing systems;

  • our ability to successfully identify, complete, and efficiently integrate acquisitions into our operations;

  • significant changes in, or new changes by, the independent system operators ("ISOs") in the regions we operate;

  • risks related to our recently completed Merger including the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted against us and others relating to the Merger Agreement or otherwise, the impact of the Merger on our operations and the amount of the costs fees, expenses and charges related to Merger;

  • competition; and

  • the "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023, and other public filings and press releases.

You should review the risk factors and other factors noted throughout this press release that could cause our actual results to differ materially from those contained in any forward-looking statement. All forward-looking statements speak only as of the date of this press release. Unless required by law, we disclaim any obligation to publicly update or revise these statements whether as a result of new information, future events or otherwise. It is not possible for us to predict all risks, nor can we assess the impact of all factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Contact: Via Renewables, Inc.

Investors:
Stephen Rabalais, 832-200-3727

Media:
Kira Jordan, 832-255-7302

SOURCE: Via Renewables, Inc.



View the original press release on accesswire.com

FAQ

What is the dividend amount for Via Renewables' Series A Preferred Stock (VIA) for Q4 2024?

Via Renewables (VIA) has declared a quarterly cash dividend of $0.71847 per share on its Series A Preferred Stock for Q4 2024.

When will Via Renewables (VIA) pay its Q4 2024 preferred stock dividend?

Via Renewables (VIA) will pay its Q4 2024 preferred stock dividend on January 15, 2025 to holders of record as of January 1, 2025.

What is the new benchmark rate for Via Renewables' (VIA) Series A Preferred Stock after LIBOR's discontinuation?

The new benchmark rate for Via Renewables' (VIA) Series A Preferred Stock is Three-Month CME Term SOFR plus a tenor spread adjustment of 0.26161%.

When did the floating rate period begin for Via Renewables' (VIA) Series A Preferred Stock?

The floating rate period for Via Renewables' (VIA) Series A Preferred Stock began on April 15, 2022.

Via Renewables, Inc.

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