Alta Equipment Group Announces Preferred Stock Dividend

Rhea-AI Summary

Alta Equipment Group (NYSE: ALTG) has announced its Board of Directors' approval of a quarterly dividend for its Series A Cumulative Perpetual Preferred Stock. The dividend amounts to $625 per preferred share, which translates to $0.625 per Depositary Share (representing a 1/1000th fractional interest in one Series A Preferred share). The dividend will be paid on January 31, 2025, to shareholders recorded as of the close of business on January 15, 2025. Alta Equipment Group operates as a premium provider of material handling, construction, and environmental processing equipment and related services.

Positive

• Regular dividend payment demonstrates financial stability
• Maintenance of preferred stock dividend obligations indicates strong cash flow position

Negative

• None.

LIVONIA, Mich., Jan. 03, 2025 (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 January 31, 2025, to shareholders of record at the close of business on January 15, 2025.

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 preferred shares announced for January 2025?

Alta Equipment Group announced a dividend of $625 per preferred share, or $0.625 per Depositary Share for its Series A Cumulative Perpetual Preferred Stock.

When is the payment date for ALTG's latest preferred stock dividend?

The dividend payment date is January 31, 2025.

What is the record date for ALTG's Q1 2025 preferred dividend?

The record date for the dividend is January 15, 2025, at the close of business.

How much will ALTG Depositary Share holders receive in the January 2025 dividend?

Holders of Depositary Shares will receive $0.625 per share, representing a 1/1000th fractional interest in one share of Series A Preferred Stock.