Revlon declares stock dividend
NEW YORK Revlon has announced a regular dividend on its Series A Preferred Stock, payable on Oct. 8, 2010, to holders at the close of business on Sept. 30.
The board of directors declared a regular dividend of $0.167434 per share on the Series A Preferred Stock for the period from July 8, 2010, through Oct. 8, 2010.
As previously disclosed, Revlon issued 9,336,905 shares of Series A Preferred Stock on Oct. 8, 2009. Pursuant to the terms of the Certificate of Designation for the Series A Preferred Stock, each share of Series A Preferred Stock is entitled to receive, when and if declared by Revlon's board out of legally available funds, cumulative preferential dividends at an annual rate of 12.75% of the $5.21 per share liquidation preference.
The regular dividends are payable quarterly in cash in arrears on Oct. 8, Jan. 8, April 8 and July 8 of each year, or the next business day if such date is not a business day, if declared.