Equity (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Schedule of Stock by Class

The Company’s preferred shares authorized, issued and outstanding consisted of the following:

	September 30, 2021	December 31, 2020
Preferred shares authorized, $0.001 par value	20,000,000	20,000,000
Series A shares issued and outstanding(1)	—	6,375
Series A-2 shares issued and outstanding(1)	—	4,000
Series A-3 shares issued and outstanding	6,125	—
Series A-4 shares issued and outstanding	10,000	—

(1) In 2020, CGI, formerly a wholly owned subsidiary of the Company, owned 6,125 shares of Series A Preferred Stock and 10,000 shares of Series A-2 Preferred Stock which were eliminated in consolidation.

Summary of Cash, PIK and Special Cash Dividends

During the nine months ended September 30, 2021 and 2020, INNOVATE's Board of Directors (the "Board") declared cash dividends with respect to INNOVATE’s issued and outstanding Preferred Stock, excluding the Series A and Series A-2 Preferred Stock which was owned by CGI and was eliminated in consolidation prior to the sale of the Insurance segment on July 1, 2021, as presented in the following table (in millions):

2021

Declaration Date	March 31, 2021		May 29, 2021		September 30, 2021
Holders of Record Date	March 31, 2021		May 29, 2021		September 30, 2021
Payment Date	April 15, 2021		June 4, 2021		October 15, 2021
Total Dividend	$	0.2	$	0.1	$	0.3

2020

Declaration Date	March 31, 2020		June 30, 2020		September 30, 2020
Holders of Record Date	March 31, 2020		June 30, 2020		September 30, 2020
Payment Date	April 15, 2020		July 15, 2020		October 15, 2020
Total Dividend	$	0.2	$	0.2	$	0.2

During the three months ended September 30, 2021, DBMGi's Board of Directors declared cash dividends with respect to DBMGi’s issued and outstanding Preferred Stock, as presented in the following table (in millions):

2021

Declaration Date	September 30, 2021
Holders of Record Date	September 30, 2021
Payment Date	October 15, 2021
Total Dividend	$	0.8