BrightView Declares Cash Dividend Payment on Preferred Stock

BrightView Holdings, Inc. (NYSE: BV), the leading commercial landscaping services company in the United States, announced today that the Company’s Board of Directors has declared a cash dividend of $8.91 million on its Series A Preferred Stock. The dividend represents payment for the period from December 31, 2023 to March 30, 2024, and will be paid on April 1, 2024, to holders of record as of March 15, 2024. 

On August 28, 2023, BrightView entered into an investment agreement with an affiliate of One Rock Capital Partners, LLC, pursuant to which the Company issued and sold, in a private placement, an aggregate of 500,000 shares of the Company’s Series A Convertible Preferred Stock, par value $0.01 per share, for an aggregate purchase price of $500 million. The Series A Preferred Stock is convertible into shares of BrightView common stock at a conversion price of $9.44 per share. Holders of the Series A Preferred Stock are entitled to a dividend at the rate of 7.0% per annum, compounding quarterly, paid in kind, or paid in cash, at the Company’s election.