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, 2020 and is payable on October 22, 2020 to all holders of record of Common Shares as of October 15, 2020.
The Board also declared a quarterly cash distribution of $0.453125 per share on the company’s 7.250 percent Series A Preferred Shares. The distribution on the Series A Preferred Shares covers the period from, and including, July 30, 2020, up to, but excluding, October 30, 2020. The distribution for such period is payable on October 30, 2020 to all holders of record of Series A Preferred Shares as of October 15, 2020.
The Board also declared a quarterly cash distribution of $0.4921875 per share on the company’s 7.875 percent Series B Preferred Shares. The distribution on the Series B Preferred Shares covers the period from, and including, July 30, 2020, up to, but excluding, October 30, 2020. The distribution for such period is payable on October 30, 2020 to all holders of record of Series B Preferred Shares as of October 15, 2020.
The Board also declared a quarterly cash distribution of $0.4921875 per share on the company’s 7.875 percent Series C Preferred Shares (the “Series C Preferred Shares”). The distribution on the Series C Preferred Shares covers the period from, and including, July 30, 2020, up to, but excluding, October 30, 2020. The distribution for such period is payable on October 30, 2020 to all holders of record of Series C Preferred Shares as of October 15, 2020.
“We are pleased that our Board declared a quarterly cash distribution of $0.36 per share on our Common Shares for the 39th consecutive quarter, as well as distributions on our Series A, B and C Preferred Shares,” said Elias Sabo, CEO of Compass Diversified. “Our ability to pay sizable distributions to shareholders every quarter as a publicly listed company, especially amidst the COVID-19 pandemic, is a differentiator in the market and underscores the advantages of our business model. We continue to showcase how our unique permanent capital structure allows us to make compelling acquisitions as evidenced by the recent BOA announcement, and our focus on working with top-tier management teams across highly diversified businesses has positioned us to consistently drive strong subsidiary performance and long-term value for our shareholders.”
CODI’s businesses includes 5.11, Liberty Safe, Marucci Sports and Velocity Outdoor in the active lifestyle space, as well as Advanced Circuits, Arnold Magnetic Technologies, Ergobaby, Foam Fabricators and Sterno. The company recently reached an agreement to acquire BOA Technology.