Clarivate declares dividend on mandatory convertible preferred shares

London , may 1, 2024 /prnewswire/ -- clarivate plc (nyse: clvt; clvt pr a) ("clarivate"), a leading global provider of transformative intelligence, today announced that its board of directors declared a quarterly dividend of $1.3125 per share on its 5.25% series a mandatory convertible preferred shares (the "preferred shares"), payable in cash on june 3, 2024 to shareholders of record at the close of business on may 15, 2024. on the mandatory conversion date, which is scheduled to occur on june 3, 2024, each preferred share will automatically and mandatorily convert into a number of ordinary shares of clarivate (and cash in lieu of any fractional ordinary shares) based on the average volume weighted average price ("vwap") of clarivate's ordinary shares over a 30-trading day period that begins on, and includes, april 18, 2024 and is scheduled to end on, and include, may 30, 2024 (the "valuation period").
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