Compass Diversified Holdings Declares Fourth Quarter 2018 Distributions on Common and Series A and B Preferred Shares
WESTPORT, Conn., Jan. 03, 2019 (GLOBE NEWSWIRE) -- Compass Diversified Holdings (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, announced today that its Board of Directors (the “Board”) has declared a quarterly cash distribution of $0.36 per share on the Company’s common shares (the “Common Shares”). The distribution for the three months ended December 31, 2018 is payable on January 24, 2019 to all holders of record of Common Shares as of January 17, 2019.
The Board also declared a quarterly cash distribution of $0.453125 per share on the Company’s 7.250% Series A Preferred Shares (the “Series A Preferred Shares”). The distribution on the Series A Preferred Shares covers the period from and including October 30, 2018, up to, but excluding, January 30, 2019. The distribution for such period is payable on January 30, 2019 to all holders of record of Series A Preferred Shares as of January 15, 2019.
The Board also declared a quarterly cash distribution of $0.4921875 per share on the Company’s 7.875% Series B Preferred Shares (the “Series B Preferred Shares”). The distribution on the Series B Preferred Shares covers the period from and including October 30, 2018, up to, but excluding, January 30, 2019. The distribution for such period is payable on January 30, 2019 to all holders of record of Series B Preferred Shares as of January 15, 2019.
About Compass Diversified Holdings (“CODI”)CODI owns and manages a diverse family of established North American middle market businesses. Each of its current subsidiaries is a leader in its niche market.
CODI maintains controlling ownership interests in each of its subsidiaries in order to maximize its ability to impact long term cash flow generation and value. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and to make cash distributions to its shareholders.
Our ten majority-owned subsidiaries are engaged in the following lines of business:
-- The design and marketing of purpose-built tactical apparel and gear serving a wide range of global customers (5.11);
-- The manufacture of quick-turn, small-run and production rigid printed circuit boards (Advanced Circuits);
-- The manufacture of engineered magnetic solutions for a wide range of specialty applications and end-markets (Arnold Magnetic Technologies);
-- Environmental services for a variety of contaminated materials including soils, dredged material, hazardous waste and drill cuttings (Clean Earth);
-- The design and marketing of wearable baby carriers, strollers and related products (Ergobaby); -- The design and manufacture of custom molded protective foam solutions and OE components (Foam Fabricators);
-- The design and manufacture of premium home and gun safes (Liberty Safe);
-- The manufacture and marketing of branded, hemp-based food products (Manitoba Harvest);
-- The manufacture and marketing of portable food warming fuels and creative ambience solutions for the hospitality and consumer markets (Sterno Products); and
-- The design, manufacture and marketing of airguns, archery products, optics and related accessories (Velocity Outdoor).
This press release may contain certain forward-looking statements, including statements with regard to the future performance of CODI. Words such as “believes,” “expects,” “projects,” and “future” or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated in the risk factor discussion in the Form 10-K filed by CODI with the SEC for the year ended December 31, 2017 and other filings with the SEC. Except as required by law, CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Compass Diversified Holdings Investor Relations and Media Contact: Ryan J. Faulkingham The IGB Group Chief Financial Officer Leon Berman 203.221.1703 212.477.8438 firstname.lastname@example.org email@example.com