Welcome to our dedicated page for Via Renewables news (Ticker: VIASP), a resource for investors and traders seeking the latest updates and insights on Via Renewables stock.
Via Renewables, Inc. reports news centered on its retail energy business and its 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock, traded as VIASP. The company provides electricity and natural gas to residential and commercial customers in competitive U.S. markets, sourcing energy from wholesale providers while local regulated utilities deliver service through existing infrastructure.
Recurring announcements for VIASP focus on quarterly preferred stock dividends, partial redemptions, book-entry processing through DTC, transfer-agent procedures, and the floating-rate framework tied to the replacement of Three-Month LIBOR with Three-Month CME Term SOFR plus the applicable spread adjustment.
Via Renewables reported its financial results for Q3 2021, showing a net income of $34.7 million, up from $22.6 million in Q3 2020. Adjusted EBITDA decreased to $22.0 million from $27.7 million year-over-year, while Retail Gross Margin fell to $30.9 million, down $16.1 million due to fewer customers. The company’s total liquidity stood at $134.5 million. A dividend of $0.18125 per share on Class A common stock was declared, payable on December 15, 2021.
Management expects further customer growth as acquisitions are fully integrated.
Via Renewables (NASDAQ:VIA) will present its third quarter 2021 financial results on November 4, 2021, at 10:00 AM Central. The presentation will be available via a live webcast on the company's Investor Relations website, along with an archived replay for twelve months. Founded in 1999 and headquartered in Houston, Texas, Via Renewables operates in 19 states, providing customers with natural gas and electricity alternatives through brands like Spark Energy and Verde Energy. Investors are encouraged to regularly check the website for updates and disclosures.
Via Renewables (NASDAQ:VIA) declared a quarterly cash dividend of $0.18125 per share on its Class A Common Stock for Q3 2021, with a payment date set for December 15, 2021. This translates to an annualized dividend of $0.725. Additionally, a dividend of $0.546875 per share on its Series A Preferred Stock was announced, with a payment date of January 17, 2022. The company has also amended its senior secured credit facility, extending it to October 13, 2023, and its $25 million subordinated debt facility to January 31, 2025, enhancing liquidity for new sustainable energy opportunities.