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WebBank, a subsidiary of Steel Partners Holdings (NYSE: SPLP), has been named one of the 2024 Best Places to Work in Financial Technology. This marks the second year in a row that WebBank has earned this recognition, ranking ninth among forty companies. The awards, managed by Arizent and Best Companies Group, highlight excellence in workplace culture in the fintech industry. WebBank's leadership attributes this achievement to their focus on innovation and an empowering work environment. Despite challenges in the fintech sector, the recognition underscores WebBank's commitment to creating jobs and fostering a positive workplace. The 2024 list was published on May 6, 2024.
Steel Partners Holdings reported strong first-quarter financial results with revenue of $476.3 million, up by 7.0% YoY, and net income of $34.8 million, a 40.3% increase. Adjusted EBITDA was $58.6 million with a margin of 12.3%. The company focused on managing inflation and reducing expenses, especially in SG&A. Revenue growth was driven by the Supply Chain and Financial Services segments, offset by declines in Energy and Diversified Industrial segments.
Steel Partners Holdings L.P. declared a regular quarterly cash distribution of $.375 per unit on its 6% Series A Preferred Units, payable on June 15, 2024. The distribution is subject to the discretion of the board of directors based on various factors.