LOS ANGELES, Oct. 8, 2020 /PRNewswire/ -- B. Riley
Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company") today
announced that its Board of Directors has declared a quarterly cash
dividend for the Company's 6.875% Series A Cumulative Perpetual
Preferred Stock ("Series A Preferred Stock"). The Board of
Directors also approved an initial cash dividend for the Company's
7.375% Series B Cumulative Perpetual Preferred Stock ("Series B
Preferred Stock").
The Series A preferred stock cash dividend equals $0.42968750 per depositary share, each
representing 1/1000th of a share of the Company's Series
A Preferred Stock with a liquidation preference equivalent to
$25.00 per depositary share. The
dividend will be payable on or about October
31, 2020 to holders of record as of the close of business on
October 21, 2020. The Series A
depository shares trade on NASDAQ under the symbol "RILYP."
The Company's Board of Directors also approved an initial cash
dividend for the Company's 7.375% Series B Cumulative Perpetual
Preferred Stock ("Series B Preferred Stock"). Trading of the Series
B depositary shares commenced on September
4, 2020 on NASDAQ under the symbol "RILYL."
The Series B cash dividend equals $0.29193 per depositary share, each representing
1/1000th of a share of the Company's Series B Preferred
Stock with a liquidation preference equivalent to $25.00 per depositary share. The dividend will be
payable on or about October 31, 2020
to holders of record as of the close of business on October 21, 2020.
About B. Riley Financial, Inc.
B. Riley Financial (NASDAQ: RILY) provides collaborative financial
services solutions tailored to fit the capital raising, business,
operational, and financial advisory needs of its clients and
partners. B. Riley operates through several subsidiaries that offer
a diverse range of complementary end-to-end capabilities spanning
investment banking and institutional brokerage, private wealth and
investment management, corporate advisory, restructuring, due
diligence, forensic accounting and litigation support, appraisal
and valuation, and auction and liquidation services. Certain
registered affiliates of B. Riley originate and underwrite senior
secured loans for asset-rich companies. B. Riley also makes
proprietary investments in companies and assets with attractive
return profiles. For the latest Company news and developments,
follow B. Riley on Twitter @BRileyFinancial and LinkedIn. For more
information about B. Riley, visit our website at
www.brileyfin.com.
Forward-Looking Statements
Statements in this press release that are not descriptions of
historical facts are forward-looking statements that are based on
management's current expectations and assumptions and are subject
to risks and uncertainties. If such risks or uncertainties
materialize or such assumptions prove incorrect, our business,
operating results, financial condition, and stock price could be
materially negatively affected. You should not place undue reliance
on such forward-looking statements, which are based on the
information currently available to us and speak only as of the date
of this press release. Factors that could cause such actual results
to differ materially from those contemplated or implied by such
forward-looking statements include, without limitation, the risks
associated with the unpredictable and ongoing impact of the
COVID-19 pandemic and other risks described from time to time in B.
Riley Financial, Inc.'s periodic filings with the SEC, including,
without limitation, the risks described in B. Riley Financial,
Inc.'s Annual Report on Form 10-K for the year ended December 31, 2019, and Quarterly Report on Forms
10-Q for the quarters ended March 31,
2020 and June 30, 2020, under
the captions "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations."
Additional information will be set forth in our Quarterly Report on
Form 10-Q for the quarter ended September
30, 2020. These factors should be considered carefully, and
readers are cautioned not to place undue reliance on such
forward-looking statements. All information is current as of the
date this press release is issued, and B. Riley Financial, Inc.
undertakes no duty to update this information.
Contacts
Investor Relations
Brad Edwards
ir@brileyfin.com
914-582-4187
Scott Cianciulli
press@brileyfin.com
(212) 739-6753
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SOURCE B. Riley Financial