MIAMI, FL / ACCESSWIRE / July 18, 2022 / The Board of Directors of Standard Premium Finance Holdings, Inc. ("Standard") (OTCQX:SPFX) declared a prorated quarterly cash dividend of $0.0175 per preferred share on July 7, 2022, payable on July 15, 2022, to preferred shareholders of record on June 30, 2022.
Based on the original price of Standard's preferred shares of $10.00 per share, the quarterly dividend produces an annualized yield of 7.00%.
William Koppelmann, Chairman and CEO, stated, "Standard has a thirty-year history of making timely interest payments to its loyal subordinated debtholders. With the introduction of our preferred stock in 2016, it gave us the opportunity to fortify our equity, increase our borrowing power, and provide an additional source of income for our preferred shareholders who believed in our long-term expansionary plan as a public company."
About Standard Premium Finance Holdings, Inc.
Standard Premium Finance Holdings, Inc. is an insurance premium finance company providing insurance premium financing solutions to businesses and individuals. With over 200 collective years of insurance premium finance experience, Standard Premium Finance is best positioned to consult and assist our valued partner agents and client base on every aspect of their insurance premium financing. Standard is an industry-leading premium finance company with annual loan originations of approximately $120 million with loans ranging from $500 to over $500,000.
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SOURCE: Standard Premium Finance Holdings Inc.