Compass Diversified (CODI) announced that its Board of Directors has declared a quarterly cash distribution of 36 cents per share on the company’s common shares.
The distribution for the three months ended September 30, 2021 is payable on October 22, 2021 to all holders of record of common shares as of October 15, 2021.
“Following our transition to be treated as a corporation and simplifying our tax structure last month, we are excited to mark the first time CODI will pay common and preferred cash distributions which, to the extent of earnings and profits, will be qualified dividends,” said Elias Sabo, CEO of CODI. “With a significantly lower cost of capital and a number of other tangible benefits, we are confident this was the right step for the company to unlock substantial value for our shareholders. We look forward to continuing to leverage our permanent capital structure to drive long-term shareholder value.”
The Board also declared a quarterly cash distribution of $0.453125 per share on the company’s 7.250 percent Series A Preferred Shares, a quarterly cash distribution of $0.4921875 per share on the company’s 7.875 percent Series B Preferred Shares and a quarterly cash distribution of $0.4921875 per share on the company’s 7.875 percent Series C Preferred Shares.
CODI’s business holdings include 5.11, Boa Technology, Marucci Sports and Velocity Outdoor in the active lifestyle space. Other businesses include Advanced Circuits, Arnold Magnetic Technologies, Ergobaby, Foam Fabricators, and Sterno.
