SunOpta Stops Dividends on Preferred Shares

SunOpta Inc (STKL) has released an update.

SunOpta Inc., a leader in sustainable plant-based foods and beverages, has amended the terms of its Series B-1 Preferred Shares to halt dividend distribution, a change consented by Oaktree Capital Management, which acquired these shares in 2020. The dividends, previously set at an 8% annual rate with a potential increase to 10%, ceased as of December 31, 2023. This strategic move aims to bolster SunOpta’s financial position for future growth within the industry.

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