Tecnoglass, Inc. will announce its third quarter financial results “before the market opens” on October 31 and hold a conference call that same day to discuss the announcement. The call will take place at 10:00 am Eastern time (9:00 am in Colombia), and international callers can join by dialing 1-201-493-6725 (1-877-705-6003 from Colombia).
The Barranquilla-based glass and building materials manufacturer has had a busy year. It is coming off finalizing a warrant exchange offer that allowed the company to recover 83% of its outstanding warrants. The month-long offer that started in mid-August and lasted until mid-September gave out one ordinary share for every 2.5 warrants.
“We are thrilled to improve our capital structure through the completion of the warrant exchange offer,” said Tecnoglass CEO José M. Daes. “Following the completion of the offer, our outstanding shares have increased by 33% to 7.8 million shares.”
Tecnoglass, which in addition to making glass and windows produces associated aluminum products, also announced the start of a quarterly dividend payment earlier this year.
In an earlier statement, the company announced that shareholders are expected to receive a quarterly dividend of $0.125 per share, or $0.50 per share each year, offered in either cash or ordinary shares depending upon the shareholder’s preference (with the payout defaulting to shares if neither option is selected during the election period).
Confirmation of these details will presumably occur during the October 31 call.