National Beverage board authorizes partial preferred stock redemption

By Tali Rackner

Norfolk, Va., Aug. 1 – National Beverage Corp. announced that the special committee of its board of directors approved the redemption of 50% of its series D preferred stock.

The preferreds were privately placed in January 2013.

The company paid $6 million plus accrued dividends on Friday. It made an initial $8 million redemption payment on May 2.

The U.S. beverage developer, manufacturer and distributor is based in Fort Lauderdale, Fla.

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