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INNOVATE's Portfolio Company DBM Global to Pay Cash Dividend

1. DBM Global will distribute a $5.5 million cash dividend. 2. INNOVATE expects to receive approximately $5 million from this dividend. 3. Only DBMG's stockholders are eligible for the cash dividend. 4. INNOVATE Corp. operates in Infrastructure, Life Sciences, and Spectrum sectors. 5. DBMG focuses on integrated steel construction services.

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FAQ

Why Bullish?

The dividend payout indicates financial health and profitability, similar to positive dividend announcements made by firms like Pfizer and Johnson & Johnson, which positively influenced their stock prices.

How important is it?

The announcement provides a direct financial benefit to INNOVATE from DBMG, enhancing investor sentiment.

Why Short Term?

Investors often react quickly to dividend announcements, as seen with past announcements which led to immediate price adjustments in many dividend-yielding stocks.

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DBMG
May 23, 2025 16:12 ET  | Source: INNOVATE Corp. NEW YORK, May 23, 2025 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) announced today that DBM Global Inc. (“DBMG”), a family of companies providing fully integrated steel construction services, and an operating subsidiary of INNOVATE, will pay a cash dividend of approximately $5.5 million, or $1.42 per share, on June 16, 2025 to DBMG’s stockholders of record at the close of business on June 2, 2025. As the largest stockholder of DBMG, INNOVATE expects to receive approximately $5 million of the total $5.5 million dividend payout. INNOVATE’s individual stockholders are not eligible to receive the cash dividend. About INNOVATEINNOVATE Corp. is a portfolio of best-in-class assets in three key areas of the new economy – Infrastructure, Life Sciences and Spectrum. Dedicated to stakeholder capitalism, INNOVATE employs approximately 3,100 people across its subsidiaries. For more information, please visit: www.INNOVATECorp.com. About DBM Global Inc.DBMG is focused on delivering world-class, sustainable value to its clients through a highly collaborative portfolio of companies which provide better designs, more efficient construction, and superior asset management solutions. The Company offers integrated steel construction services from a single source and professional services which include design-assist, design-build, engineering, detailing, BIM co-ordination, steel modeling/detailing, fabrication, rebar detailing, advanced field erection, project management, and state-of-the-art steel management systems.  Major market segments include commercial, healthcare, convention centers, stadiums, gaming and hospitality, mixed use and retail, industrial, public works, bridges, transportation, and international projects. The Company, which is headquartered in Phoenix, Arizona, has operations in United States, Australia, Canada, India, New Zealand, the Philippines and the United Kingdom. Forward-Looking StatementsCertain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally relate to future events, such as DBMG’s payment of a cash dividend. You are cautioned that such statements are not guarantees of future performance and that INNOVATE’s actual results may differ materially from those set forth in the forward-looking statements. All of these forward-looking statements are subject to risks and uncertainties that may change at any time. Factors that could cause INNOVATE’s actual expectations to differ materially from these forward-looking statements include DBMG’s payment of a cash dividend and the other factors under the heading “Risk Factors” set forth in INNOVATE’s Annual Report on Form 10-K, as supplemented by INNOVATE’s quarterly reports on Form 10-Q. Such filings are available on our website or at www.sec.gov. You should not place undue reliance on these forward-looking statements, which are made only as of the date of this press release. INNOVATE undertakes no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws. Investor Contact:Solebury Strategic CommunicationsAnthony Rozmusir@innovatecorp.com (212) 235-2691

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