RILYK - B. Riley Financial: $1.61 Billion In Ample Liquidity Dividend Declared And Short Squeeze
2024-05-18 10:50:37 ET
Summary
- B. Riley Financial's total cash and investments balance at $1.61 billion provides substantial balance sheet depth.
- The company declared a $0.50 per share quarterly cash dividend for a 7% annual dividend yield.
- RILY faces jus $25 million in debt maturing in 2024 as of the end of its first quarter with $146.4 million of debt maturing in 2025 comfortably covered by cash.
If you had to take away one figure from B. Riley Financial's ( RILY ) fiscal 2024 first-quarter earnings it would have to be its total cash and investments balance of $1.61 billion . The financial services firm is also set to fully redeem its 6.75% Senior Notes Due 5/31/2024 ( RILYO ) at the end of May, reducing the number of its public trading baby bonds to six. I own a substantial position in the 5.25% Senior Notes Due 08/31/2028 ( RILYZ ) with these currently trading nearly $9 below their intrinsic liquidation value of $25 per note. They've been stable since I last covered RILY with their $1.3125 per note annual coupon now constituting an 8% yield on cost. ...
B. Riley Financial: $1.61 Billion In Ample Liquidity, Dividend Declared, And Short Squeeze