Compass Diversified (CODI) Declares $0.25 Quarterly Cash Distribution

By Tamara Parker • Wednesday, July 03 07:54 • Permanent Link

Compass Diversified (CODI) has declared a quarterly cash distribution of $0.25 per share on its common shares for the three months ended June 30, 2024. This is payable on July 25, 2024, to all holders of record of common shares as of July 18, 2024.

For the 7.250% Series A Preferred Shares, the declared quarterly cash distribution is $0.453125 per share, covering the period from April 30, 2024, up to but excluding July 30, 2024. This distribution is payable on July 30, 2024, to all holders of record of Series A Preferred Shares as of July 15, 2024.

Likewise, for the 7.875% Series B Preferred Shares and the 7.875% Series C Preferred Shares, the declared quarterly cash distribution is $0.4921875 per share, covering the same period as the Series A Preferred Shares. These distributions are also payable on July 30, 2024, to all holders of record of the respective preferred shares as of July 15, 2024.

CODI's common and preferred cash distributions are expected to generally constitute "qualified dividends" for U.S. federal income tax purposes, provided that the requisite holding period is met. The final tax status of these distributions will be determined and reported to shareholders in early 2025.

Since its IPO in 2006, CODI has consistently executed its strategy of owning and managing a diverse set of middle-market businesses across the industrial, branded consumer, and healthcare sectors. The company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries. CODI provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. The company utilizes the cash flows generated by its subsidiaries to invest in long-term growth and has consistently generated strong returns through its culture of transparency, alignment, and accountability. Following these announcements, the company's shares moved 0.6%, and are now trading at a price of $21.81. For more information, read the company's full 8-K submission here.

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