ROG · 10-Q · 2026Q1 · Full report
Restrictions on Payment of Dividends
ROGERS CORP · 2026-04-29 · Importance 24 · Surprise 6
The Fifth Amended Credit Agreement permits payment of cash dividends provided no default exists and the Company's total net leverage ratio does not exceed 2.75 to 1.00. If leverage exceeds 2.75 to 1.00, the Company may still make up to $20.0 million in restricted payments (including dividends) during the fiscal year, subject to no default. As of March 31, 2026, Rogers' total net leverage ratio did not exceed the 2.75 covenant threshold. These covenant provisions condition the Company's flexibility to return cash to shareholders via dividends.
Key facts
- If total net leverage ratio exceeds 2.75 to 1.00, the company may still make up to $20.0 million in restricted payments, including cash dividends, during the fiscal year provided no default exists.
- The Fifth Amended Credit Agreement generally permits payment of cash dividends provided no default exists and the company's total net leverage ratio does not exceed 2.75 to 1.00.
- The company's total net leverage ratio did not exceed 2.75 to 1.00 as of March 31, 2026.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | contingent | -0.1% | If total net leverage ratio exceeds 2.75 to 1.00, the company may still make up to $20.0 million in restricted payments, including cash… |
| cash | negative | contingent | — | The Fifth Amended Credit Agreement generally permits payment of cash dividends provided no default exists and the company's total net… |