v3.25.2
Subsequent Events
6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events
16. Subsequent Events

Declaration of Dividends

On July 16, 2025 we declared a quarterly cash dividend in the amount of $0.69732 per share to holders of record of the Series A Preferred Stock on October 1, 2025. The dividend will be paid on October 15, 2025.

Partial Redemption of Series A Preferred Stock

On July 16, 2025, we announced the redemption of 319,216 shares of our Series A Preferred Stock for a redemption price of $25.00 per share, plus any declared and unpaid dividends on the Series A Preferred Stock through and including the redemption date, which will be August 15, 2025.

One Big Beautiful Bill Act
On July 4th, 2025, the One Big Beautiful Bill Act (“OBBB”) was signed into law. The OBBB makes changes to U.S. tax law and includes provisions that beginning in January 2025, make permanent full expensing of tangible personal property, restores EBITDA-based calculations for purposes of the business interest deduction and allows for current expensing of R&D expenditures. ASC 740-10 requires the impact of changes to tax law to be recorded during the period of enactment, which will be reflected in our third quarter financial statements. We expect that OBBB will provide some reductions in cash taxes, however we do not anticipate the OBBB to materially impact income tax expense.