PHOENIX, May 23, 2025 (GLOBE NEWSWIRE) -- DBM Global Inc. (“DBMG”), a family of companies providing fully integrated steel construction services, and an operating subsidiary of INNOVATE Corp. (NYSE: VATE), announced today that it 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. About DBM Global Inc. DBMG is focused on delivering world class, sustainable value to its clients through a highly ...

Core Points - INNOVATE Corp. announced that its subsidiary DBM Global Inc. will pay a cash dividend of approximately $5.5 million, or $1.42 per share, to stockholders on June 16, 2025 [1] - As the largest stockholder of DBMG, INNOVATE expects to receive around $5 million from the total dividend payout [1] - Individual stockholders of INNOVATE are not eligible to receive the cash dividend [1] Company Overview - INNOVATE Corp. operates in three key areas of the new economy: Infrastructure, Life Sciences, and Spectrum, employing approximately 3,100 people across its subsidiaries [2] - DBM Global Inc. focuses on delivering sustainable value through integrated steel construction services and professional services, with operations in multiple countries including the United States, Australia, Canada, India, New Zealand, the Philippines, and the United Kingdom [3]

PHOENIX, May 20, 2025 (GLOBE NEWSWIRE) -- DBM Global Inc. (“DBMG”), announced today that it has entered into an amended and restated credit agreement that provides for an $85 million term loan and a $135 million revolving credit facility (the “Credit Facility”), which will be used to fully repay DBMG’s existing debt obligations and provide additional working capital capacity. The Credit Facility from a syndicate led by UMB Bank, N.A. provides for senior secured debt in the total amount of $220 million and i ...