NEW YORK, NY / ACCESSWIRE / August 1, 2022 / 1847 Holdings LLC ("1847 Holdings" or the "Company") (OTCQB:EFSH), 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 its board of directors has declared a cash dividend on its Common Shares in the amount of $0.13125 per share (post one-for-four reverse split). The record date for the dividend shall be the second trading day following the effective date of the Company's Registration Statement on Form S-1 (File No. 333-259011) relating to the Company's proposed public offering, initially filed by the Company with the Securities and Exchange Commission on August 23, 2021, and the payment date shall be as soon as possible thereafter. The payment of the dividend is conditioned upon the closing of such public offering. The anticipated effective date of the registration statement is August 1 and the anticipated record date for the dividend is August 3. Therefore, it is expected that investors who purchase stock in the open market on August 1 and do not sell before the anticipated record date will be shareholders of record on August 3 and participate in the dividend.
"Jack Bogle, founder of The Vanguard Group, once said "Successful investing is about owning businesses and reaping the huge rewards provided by the dividends and earnings growth of our nation's - and, for that matter, the world's - corporations." As the founder, CEO and a significant shareholder of 1847 Holdings LLC, a holding company focused on acquiring profitable, growing small businesses, headquartered in the United States, I, along with the rest of our management team are unwaveringly committed to enhancing shareholder value today and in the future. Paying a dividend regularly is a cornerstone of that commitment. As the U.S. economy has proved itself to be resilient for many decades past, we believe that will be the case going forward, notwithstanding the market headwinds we face today. We are excited by the collective growth prospects of our five (5) operating subsidiaries and the opportunity to add additional subsidiaries in the very near future," said Ellery W. Roberts, CEO and Chairman of 1847 Holdings LLC.
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.
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.
SOURCE: 1847 Holdings LLC