- Fortress Biotech (NASDAQ:FBIO) on Friday said that it had paused the payment of dividends on its 9.375% series A cumulative redeemable perpetual preferred stock.
- The company added that dividends on the preferred stock will continue to accrue and cumulate until such dividends are authorized or declared.
- FBIO said that it will begin accruing the dividend as of July 1, 2024, and no dividend payment will be issued on July 31, 2024.
- The pausing of the dividend will defer about $0.7M in cash dividend payments each month.
- Press release.
2024-07-05