Via Renewables declares quarterly preferred stock dividend

Via Renewables, Inc. (NASDAQ: VIASP) announced its board of directors declared a quarterly cash dividend of $0.65704 per share on the company's 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock, according to a company statement.

The dividend will be paid on July 15, 2026 to shareholders of record as of July 1, 2026. The Houston-based energy services company noted that the floating rate period for the Series A Preferred Stock began on April 15, 2022.

The company disclosed that following the end of Three-Month LIBOR publication on June 30, 2023, the replacement benchmark rate for the Series A Preferred Stock is Three-Month CME Term SOFR, administered by CME Group Benchmark Administration, Ltd., plus a tenor spread adjustment of 0.26161%. This change was implemented in accordance with the Adjustable Interest Rate (LIBOR) Act and regulations from the Federal Reserve Board.

Via Renewables operates as an independent retail energy services company, providing natural gas and electricity services to residential and commercial customers in competitive markets across 21 states and 106 utility territories. The company was founded in 1999 and operates under brands including Spark Energy, Major Energy, Provider Power, and Verde Energy.

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