B. Riley Financial Reports Record Fourth Quarter and Full Ye

B. Riley Financial Reports Record Fourth Quarter and Full Year 2020 Results, Declares $3.50 Dividend


Record investment banking results driven by increased activity and larger transactions
Net income of $170.1 million vs. $16.9 million, EPS of $6.55 vs. $0.59 per diluted share
Operating revenues of $270.0 million vs. $130.5 million, Operating EBITDA of $126.8 million vs. $16.4 million
Q4 total adjusted EBITDA of $260.5 million vs. $50.3 million
Full Year 2020
Record annual total revenues of $902.7 million vs. $652.1 million for FY 2019
Net income of $200.4 million vs. $81.3 million, EPS of $7.56 vs. $2.95 per diluted share
Operating revenues of $798.7 million vs. $545.6 million, Operating EBITDA of $311.7 million vs. $113.6 million
Annual investment gains of approximately $104 million
Annual total adjusted EBITDA of $406.8 million vs. $207.9 million
Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial, said: "Given the strength and performance of both our episodic and steady recurring businesses, we are increasingly confident in the earnings power of our platform. The increase in our regular quarterly dividend to $0.50 reflects the continued growth of our recurring businesses, namely our brands, advisory, and principal investments; and our special $3.00 dividend reflects the strength of our episodic businesses, including brokerage and retail liquidation. While these businesses tend to be cyclical, we believe issuing a special dividend allows us to maintain flexibility. As we continue to see extremely attractive uses for our capital, we also believe it is important to reward our shareholders with the cash flow that we generate. We feel strongly that a balanced capital allocation policy includes substantial dividends to our partners."

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