Goosehead closes $300 million term loan and declares $5.91 per share special dividend
Goosehead's subsidiary entered a $300 million term loan and $75 million revolving credit facility with JPMorgan Chase Bank, N.A. as administrative agent, replacing a 2021 credit agreement. The company's holding entity declared a $175 million distribution and the board declared a one-time special cash dividend of $5.91 per share, both payable January 31, 2025 to holders of record on January 21, 2025. Shareholders receive cash, but the company takes on new secured debt that matures in 2032 and 2030.
- The $300 million term loan matures January 8, 2032, and the $75 million revolving credit facility matures January 8, 2030.
- The special dividend is $5.91 per share, payable January 31, 2025 to Class A shareholders of record as of January 21, 2025.
- Per the press release, $1.22 of the dividend comes from prior tax distributions and $4.69 from the Goosehead Financial, LLC distribution.
- Per the press release, loan proceeds will also retire the company's existing $93 million term loan.