Atlanticus Holdings Corporation: Quarterly Dividend Declared, Partnership Extended, and Successful Senior Notes Offering’
ATLANTA, May 14, 2024’ - Atlanticus Holdings Corporation (NASDAQ: ATLC), a prominent financial technology firm, recently disclosed several key developments that reinforce its commitment to providing inclusive financial services and fostering robust partnerships within the industry.
Quarterly Preferred Stock Dividend Announcement’
The Board of Directors at Atlanticus has approved a quarterly dividend of $0.476563 per share for holders of the Series B Cumulative Perpetual Preferred Stock. This dividend will be dispensed on June 15, 2024, to shareholders on record as of June 1, 2024. This initiative underscores Atlanticus’ dedication to delivering consistent returns to its investors, reflecting the company’s stable financial health and positive growth trajectory.
Fortiva Retail Credit and Vivint Partnership Renewal’
Earlier this year, on February 8, 2024, Atlanticus announced a significant milestone with the renewal of its partnership between Fortiva Retail Credit and Vivint. Fortiva Retail Credit continues to lead the second look point-of-sale financing sector, assisting consumers with subprime credit scores. The multi-year extension of this collaboration with Vivint, a top smart home provider in the U.S. aims to enhance the financing options available to Vivint’s customers, further embedding Fortiva’s presence in the smart home market and aiding in the proliferation of smart technology in American households.
Successful Closing of Senior Notes Offering’
Atlanticus commenced the year with the successful closure of a $50 million offering of 9.25% Senior Notes due in 2029. Announced on January 30, 2024, this underwritten registered public offering will provide the company with net proceeds of approximately $48.3 million, post underwriting discounts, commissions, and structuring fees. This capital infusion is poised to support Atlanticus’ ongoing and future business initiatives, reinforcing its financial foundation and enabling continued innovation in providing financial services.
Conclusion’
Atlanticus Holdings Corporation continues to demonstrate remarkable business acumen and strategic initiative through these recent developments. The approved quarterly dividend, renewed critical partnerships, and the closing of a substantial senior notes offering collectively highlight the company’s forward-looking strategy and its unwavering dedication to broadening financial inclusivity across various sectors.
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