NEW YORK — Revlon’s board has declared a regular dividend of approximately 16.5 cents per share on the Series A Preferred Stock for the period from July 9 through Oct. 8.
This regular dividend is payable on Oct. 8 to holders of record of the Series A Preferred Stock at the close of business on Sept. 28.
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. The full terms and conditions of the Series A Preferred Stock are set forth in the Certificate of Designation for the Series A Preferred Stock, which Revlon filed with the SEC on Oct. 8, 2009.