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Babcock & Wilcox Enterprises, Inc. (NYSE:BW) has announced that its board of directors approved a dividend for holders of its 7.75% Series A Cumulative Perpetual Preferred Stock. The dividend, set at $0.4843750 per share, will be payable on March 31, 2025, to shareholders of record as of March 21, 2025.
This dividend declaration follows the company’s consistent practice of rewarding its preferred stockholders. The preferred stock, trading under the ticker symbol "BW PRA" on the New York Stock Exchange, represents a segment of Babcock & Wilcox’s diverse financial instruments, which also includes common stock and senior notes.
Babcock & Wilcox, headquartered in Akron, Ohio, operates within the heating equipment industry, excluding electric and warm air furnaces. The company’s commitment to shareholder returns is evident in its regular dividend distributions, which contribute to the overall investment appeal of its preferred stock.
Investors in the company’s preferred shares can anticipate the receipt of the declared dividend by the end of March, aligning with the company’s scheduled financial events. This announcement, based on a press release statement, provides shareholders with the necessary information regarding the upcoming dividend payment. For comprehensive analysis and detailed insights into BW’s financial health, investors can access the full Pro Research Report, available exclusively on InvestingPro.
In other recent news, Babcock & Wilcox Enterprises, Inc. has made notable amendments to its credit agreement and corporate bylaws. The company, along with its subsidiaries and lenders, modified its credit agreement on February 28, 2025, with Axos Bank acting as the administrative agent. This amendment includes a one-time waiver for a default related to pension fund contributions for the year ending December 31, 2023. Babcock & Wilcox is now required to maintain a reserve for two years’ worth of pension contributions, with potential reductions following a permitted refinancing. Additionally, the company’s board approved changes to its bylaws on February 27, 2025, incorporating the SEC’s universal proxy rules and revising advance notice provisions for director nominations. The amendments also specify that nominees must be interviewed by board members and include detailed disclosure requirements about director nominees. Furthermore, the bylaws now feature adjustments for procedural matters in line with the Delaware General Corporation Law and an exclusive forum provision for certain legal actions. These developments reflect Babcock & Wilcox’s efforts to ensure regulatory compliance and enhance corporate governance practices.
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