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Spark Energy, Inc. (NASDAQ:SPKE) announced plans to present its full year and fourth quarter 2020 financial results on March 4, 2021, at 10:00 AM Central (11:00 AM Eastern). Investors can access the live conference call via a webcast on the company’s Investor Relations website. Spark Energy, founded in 1999 and headquartered in Houston, Texas, operates in 19 states, offering alternatives for natural gas and electricity to residential and commercial customers. The company emphasizes stable energy costs and green product choices.
Spark Energy, Inc. has announced a quarterly cash dividend of $0.18125 per share on its Class A Common Stock, amounting to an annualized dividend of $0.725. This dividend will be paid on March 15, 2021, to shareholders recorded as of March 1, 2021. Additionally, a dividend of $0.546875 per share has been declared on the 8.75% Series A Preferred Stock, translating to an annualized dividend of $2.1875, payable on April 15, 2021, to holders on record by April 1, 2021.
Spark Energy (NASDAQ:SPKE) announced an increase in its senior secured borrowing base credit facility to $227.5 million. The company attributes this expansion to its improved liquidity position over recent quarters, enhancing its financial flexibility for future projects and opportunities. Chairman and CEO Keith Maxwell expressed gratitude to their banking partners for their support, emphasizing a commitment to deliver strong financial results in 2021. Spark Energy operates in 19 states across the U.S., providing alternative energy services to residential and commercial customers.
Spark Energy reported its third quarter 2020 financial results, achieving $27.7 million in Adjusted EBITDA, $47.0 million in Retail Gross Margin, and $22.6 million in Net Income. The total Residential Customer Equivalents (RCE) count decreased to 499,000 from 772,000 a year earlier, with an average monthly attrition of 3.0%. The company expanded its Senior Credit Facility to $202.5 million. Despite a strong quarter amidst COVID-19, net income declined from $37.7 million in Q3 2019 due to reduced gross margin and mark-to-market accounting.
Spark Energy, Inc. (NASDAQ:SPKE) has announced a conference call to present its third quarter 2020 financial results on November 4, 2020, at 10:00 AM Central. The conference call will be available via live webcast on the company's Investor Relations website, with an archived version accessible for twelve months post-event. Founded in 1999 and headquartered in Houston, Spark Energy provides retail energy services across 20 states, offering diverse products including stable energy costs and green alternatives. Investors are encouraged to monitor the website for updates.
Spark Energy (NASDAQ:SPKE) has declared a quarterly cash dividend of $0.18125 per share for its Class A Common Stock for Q3 2020, translating to an annualized rate of $0.725 per share. This dividend will be distributed on December 15, 2020, to shareholders of record on December 1, 2020. Additionally, for its 8.75% Series A Preferred Stock, a dividend of $0.546875 per share has been announced, with an annualized rate of $2.1875. This payment is scheduled for January 15, 2021, to holders on record as of January 1, 2021.
Spark Energy has authorized a $20 million share buyback program for its Class A common stock, effective through August 18, 2021. The initiative aims to enhance shareholder value and will be funded via available cash and borrowings under its Senior Credit Facility. The Company plans to repurchase shares in the open market or through private transactions, subject to market conditions. The buyback program is flexible and may be modified or halted as needed.