Fortress Biotech Announces Pause In Payment Of Dividends On 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock; Pausing Of These Dividends Will Defer ~$700K In Cash Dividend Payments Each Month
Portfolio Pulse from Benzinga Newsdesk
Fortress Biotech (NASDAQ: FBIO) has announced a pause in the payment of dividends on its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock, deferring approximately $700K in cash dividend payments each month. The company aims to maintain financial flexibility ahead of potential significant inflection points.
July 05, 2024 | 8:06 pm
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Fortress Biotech has paused the payment of dividends on its 9.375% Series A Preferred Stock, deferring approximately $700K in cash dividend payments each month. This move is intended to maintain financial flexibility ahead of potential significant inflection points.
Pausing dividend payments can be seen as a negative signal to investors, indicating potential cash flow issues or a need to conserve cash. This could lead to a short-term decline in stock price as investors react to the news.
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