Compass Diversified Holdings, a leading acquirer and manager of middle market businesses, announced this morning that its Board of Directors declared a quarterly cash dividend of $0.34 per share. According to the press release, the distribution for the three months ended March 31, 2009 is payable on April 30, 2009 to all holders of record as of April 23, 2009.
Joe Massoud, CEO of Compass Diversified Holdings, commented, “We are pleased to declare a first quarter distribution of $0.34 per share, increasing the cumulative distributions that we have announced since our IPO in May of 2006 to $3.6152 per share. Our distribution for the quarter is testimony to the long-term strength of CODI’s business model, which is focused on owning niche leading companies in diverse industries.â€
He added, â€œCODI’s ability to generate significant cash flow on a normalized basis, combined with its considerable financial strength, positions the Company to continue to pay distributions while also pursuing attractive acquisition opportunities.”