Shares of 1847 Holdings (OTCMKTS:EFSH) ended sharply higher on Thursday on unusual volume.
Market Action
On Thursday, EFSH stock moved up 17.65% at $2.00 with 2.54K shares, compared to its average volume of 630 shares. The stock has moved within a range of $2.0000 – 2.0000 after opening the trade at $2.00.
1847 Holdings Declares Quarterly Dividend
1847 Holdings (OTCMKTS:EFSH), which is a publicly traded holding company platform involved in combining lucrative attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, has made an announcement on the November 11, regarding the first regular quarterly dividend on its common stock for the fourth quarter of 2021.
Their board of directors has declared the quarterly dividend on its common stock, in the amount of $0.05 per share. It is payable in cash on the January 15, 2022 to EFSH common shareholders of record as of December 31, 2021. The company is looking to pay aggregate annual dividends of $0.20 during fiscal year 2022.
Ellery W. Roberts, CEO of 1847 Holdings, says that their October 2021 financing has raised gross proceeds totaling almost $25 million. It has been a turning point for the company for sure! Since securing funding at the holding company level, it has given them flexibility to strategically re-invest cash into their subsidiaries. It will give them an opportunity to build on operational improvements and boost growth of every business segment. The objective is to incrementally increase cash flow as they execute on their buy and build strategy.
The October 2021 financing has also made it possible to complete the acquisitions of High Mountain Door & Trim Inc. and Sierra Homes, LLC by their 1847 Cabinet Inc. subsidiary.
Key Quote
“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.”
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