Alta Equipment Group Announces Preferred Stock Dividend

Rhea-AI Summary

Alta Equipment Group (NYSE: ALTG), a leading provider of material handling, construction, and environmental processing equipment, has announced the approval of a quarterly dividend on its Series A Cumulative Perpetual Preferred Stock.

The dividend is set at $625 per preferred share, translating to $0.625 per Depositary Share, each representing a 1/1000th interest in a Series A Preferred share.

The dividend will be paid on July 31, 2024, to shareholders who are recorded as of July 15, 2024.

Positive

• Quarterly dividend of $625 per preferred share demonstrates financial strength and commitment to returning value to shareholders.
• Dividend of $0.625 per Depositary Share enhances investor income.

Negative

• Payment of dividends could impact cash reserves.

LIVONIA, Mich., July 03, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or “the Company”), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its Series A Cumulative Perpetual Preferred Stock in the amount of $625 per preferred share. This will equate to a dividend of $0.625 for each of the outstanding Depositary Shares representing a 1/1000th fractional interest in one share of Series A Preferred. The dividend payment date is July 31, 2024, to shareholders of record at the close of business on July 15, 2024.

About Alta Equipment Group Inc.
Alta owns and operates one of the largest integrated equipment dealership platforms in North America. Through our branch network, the Company sells, rents, and provides parts and service support for several categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, other construction equipment and allied products. Alta has operated as an equipment dealership for 40 years and has developed a branch network that includes over 85 total locations across Michigan, Illinois, Indiana, Ohio, Pennsylvania, Massachusetts, Maine, Connecticut, New Hampshire, Vermont, Rhode Island, New York, Virginia, Nevada and Florida and the Canadian provinces of Ontario and Quebec. Alta offers its customers a one-stop-shop for their equipment needs through its broad, industry-leading product portfolio. More information can be found at www.altg.com.

Contacts

Investors:
Kevin Inda
SCR Partners, LLC
kevin@scr-ir.com
(225) 772-0254

Media:
Glenn Moore
Alta Equipment
glenn.moore@altg.com
(248) 305-2134

FAQ

What is the dividend amount for ALTG Series A Preferred Stock?

The dividend amount for Alta Equipment Group's Series A Preferred Stock is $625 per preferred share.

How much is the dividend per Depositary Share for ALTG?

The dividend per Depositary Share for Alta Equipment Group is $0.625.

When is the dividend payment date for ALTG's Series A Preferred Stock?

The dividend payment date is July 31, 2024.

What is the record date for ALTG's Series A Preferred Stock dividend?

The record date is July 15, 2024.

How often does ALTG pay dividends on its Series A Preferred Stock?

Alta Equipment Group pays dividends on its Series A Preferred Stock quarterly.

What is the stock symbol for Alta Equipment Group?

The stock symbol for Alta Equipment Group is ALTG.