LOS ANGELES, Oct. 15, 2019 /PRNewswire/ -- B. Riley Financial,
Inc. (NASDAQ: RILY) ("B. Riley" or the "Company") today announced
that its Board of Directors has approved an initial cash dividend
for the Company's 6.875% Series A Cumulative Perpetual Preferred
Stock ("Series A Preferred Stock"). Trading of the depositary
shares commenced on October 8, 2019
on NASDAQ under the symbol "RILYP."
The cash dividend equals $0.11458333 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, 2019 to holders of record as of the close of business on
October 21, 2019.
About B. Riley Financial, Inc. (NASDAQ:RILY)
B. Riley
Financial provides collaborative financial services tailored to fit
the capital raising and business advisory needs of public and
private companies and high-net-worth individuals. B. Riley operates
through several wholly-owned subsidiaries which offer 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. The Company also makes proprietary
investments in companies and assets with attractive return
profiles.
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. Such forward looking statements include, but are not
limited to, statements regarding the terms and conditions and
timing of the preferred stock offering and the intended use of
proceeds. Because these forward-looking statements involve known
and unknown risks and uncertainties, there are important factors
that could cause actual results, events or developments to differ
materially from those expressed or implied by these forward-looking
statements. Factors that could cause actual results to differ
include (without limitation) the Company's financial performance;
and those risks described from time to time in B. Riley Financial's
periodic filings with the SEC, including, without limitation, the
risks described in B. Riley Financial's Annual Report on Form 10-K
for the year ended December 31, 2018
under the captions "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations."
Additional information is also set forth in our Quarterly Report on
Form 10-Q for the quarter ended June 30,
2019. 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
undertakes no duty to update this information.
Investor Contact
Investor Relations
ir@brileyfin.com
(310) 966-1444
Media Contact
Jo Anne
McCusker
jmccusker@brileyfin.com
(646) 885-5425
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SOURCE B. Riley Financial