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Thursday, Nov 30, 2023

B. Riley Declares Special Dividend on Third Quarter Results

B. Riley Financial Inc. reported third-quarter net income of $2.8 million (10 cents a share), the Woodland Hills financial services company announced Monday. Total revenue increased 8 percent year-over-year to $99.7 million, which the company attributed to growth in its capital markets segments as well as to gains from its principal investments and valuation and appraisal business. “We are seeing true leverage from our diversified platform and more instances where clients can engage us for multiple services which has resulted in increased revenue opportunities,” Chief Executive Bryant Riley said in a statement. The company also announced a special dividend of 8 cents a share, on top of a planned 8 cents a share quarterly payout. Shares of B. Riley fell 5 cents, or a fraction of a percent, on Monday to close at $19 on the Nasdaq.

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