STR Holdings Inc. Announces 85c/Share Dividend Upon Closing Of Strategic Transaction
- STRI agreed to sell a 51% stake in the company to Chinese PV power station developer Zhenfa Energy Group for $21.7 million.
- The proceeds of the sale to Zhenza will fund a special cash dividend of $0.85/share for all STRI shareholders owning shares before the 4Q expected execution of the deal.
- Zhenfa will help drive sales of STRI encapsulants in China/globally and will help increase gross margins by providing manufacturing space, assisting with raw materials, helping SRTI receive tax breaks.