NEW YORK, Nov. 11, 2021 (GLOBE NEWSWIRE) -- 1847 Holdings LLC (OTCQB: EFSH) (“1847 Holdings”), a publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced that its board of directors declared the first regular quarterly dividend on its common stock for the fourth quarter of 2021 in the amount of $0.05 per share, payable in cash, on January 15, 2022 to EFSH common shareholders of record as of December 31, 2021. The Company expects to pay aggregate annual dividends of $0.20 during fiscal year 2022.
“Our October 2021 financing, which raised gross proceeds of nearly $25 million, was an absolute game changer for our company,” commented Ellery W. Roberts, CEO of 1847 Holdings. “By securing funding at the holding company level, we now have the flexibility to strategically re-invest cash into our subsidiaries to maximize operational improvements and accelerate growth of each business segment, incrementally building cash flow as we continue to execute on our buy and build strategy.”
“In addition to significantly strengthening our balance sheet, the October 2021 financing was key to completing the acquisitions of High Mountain Door & Trim Inc. and Sierra Homes, LLC by our 1847 Cabinet Inc. subsidiary,” continued Roberts. “Our bolstered financial position and growing top-line performance provide the necessary foundation to both implement quarterly cash dividends for our common stockholders, while also continuing to pay down prior subsidiary obligations, ultimately unlocking even further value for our shareholders.”
About 1847 Holdings LLC
1847 Holdings LLC (OTCQB: EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue and Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders.
Forward-Looking Statements
This press release may contain information about 1847 Holdings’ view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management’s beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in “Risk Factors” included in our SEC filings.
Contact:
Ellery W. Roberts, Founder & CEO
1847 Holdings LLC
Office: 212.417.9800
info@1847holdings.com
Dave Gentry, CEO
RedChip Companies
Office: 1.800.RED.CHIP (733.2447)
Cell: 407.491.4498
dave@redchip.com
