Docebo Inc. plans to finance a one-time dividend of about $60 million with additional borrowing, giving shareholders a cash distribution while adding to the company’s debt.
The funds are expected to come through Docebo’s existing $150 million credit facility. On Sept. 30, the company had $88.221 million in borrowings and $42.488 million in cash and cash equivalents. Docebo said it has no plans for another special distribution and that the payment leaves its growth plans intact.
In a Nov. 6 filing with the U.S. Securities and Exchange Commission, Docebo announced the $2.42-per-common-share distribution. Shareholders on the register Nov. 16 qualify for payment, which is scheduled for Nov. 30.
