- Via Renewables (VIASP) to redeem 319,216 shares of 8.75% Series A Fixed-to-Floating Rate Preferred Stock.
- Redemption price set at $25.00 per share plus $0.23497 in accumulated dividends.
- Redemption date scheduled for August 15, 2025, processed through DTC with Equiniti as the transfer agent.
Via Renewables, Inc. (VIASP) has announced it will redeem 319,216 shares of its 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock. This redemption, taking place on August 15, 2025, is set at a price of $25.00 per share in cash, with an additional $0.23497 per share paid in accumulated and unpaid dividends.
The total financial implication of this redemption is approximately $8.08 million. By undertaking this action, Via Renewables strategically aims to reduce its high-dividend obligations, potentially freeing up cash flow for common shareholders by eliminating around $700,000 in annual dividend payments.
This move may reflect the company's confidence in its liquidity and overall financial health, indicating an optimization of its capital structure. Partial redemptions such as this often demonstrate management's belief in the company's future cash generation capabilities.
The redemption will be conducted via The Depository Trust Company's (DTC) book-entry system, ensuring a smooth process managed by the Equiniti Trust Company as the transfer agent. Shareholders seeking further details regarding the redemption procedures are encouraged to contact Equiniti directly.
