Company: BWNB
Filing Date: 2025-06-10
Form Type: 424B5
Source: 0001104659-25-058204
Chunk: 32

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-06-10
Form: 424B5
Chunk 32
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 to do so. Our
board of directors may grant holders of preferred stock, in the resolutions creating the series of preferred stock, the right to vote
on the election of directors or any questions affecting our company.

Holders of our common stock
are entitled to dividends in such amounts and at such times as our board of directors in its discretion may declare out of funds legally
available for the payment of dividends. We currently intend to retain our entire available discretionary cash flow to finance the growth,
development and expansion of our business and do not anticipate paying any cash dividends on the common stock in the foreseeable future.
Any future dividends will be paid at the discretion of our board of directors after taking into account various factors, including:

| · | general business conditions; |

| · | industry practice; |

| · | our financial condition and performance; |

| · | our future prospects; |

| · | our cash needs and capital investment plans; |

| · | our obligations to holders of any preferred stock we 
 may issue;                                           |

| · | income tax consequences; and |

| · | the restrictions Delaware and other applicable laws 
 and our contractual arrangements then impose.       |

If we liquidate or dissolve
our business, the holders of our common stock will share ratably in all our assets that are available for distribution to our stockholders
after our creditors are paid in full and the holders of all series of our outstanding preferred stock, if any, receive their liquidation
preferences in full.

Our common stock has no preemptive
rights and is not convertible or redeemable or entitled to the benefits of any sinking or repurchase fund. All of our outstanding shares
of common stock are fully paid and non-assessable.

| 8 |

Our common stock is listed
on the New York Stock Exchange under the symbol “BW.” The transfer agent and registrar for our common stock is Computershare
Trust Company, N.A.

Preferred Stock

At the direction of our board
of directors, without any action by the holders of our common stock, we may issue one or more series of preferred stock from time to
time. Our board of directors can determine the number of shares of each series of preferred stock, the designation, powers, preferences
and relative, participating, optional or other special rights, and the qualifications, limitations or restrictions applicable to any
of those rights, including dividend rights, voting rights, conversion or exchange rights, terms of redemption and liquidation preferences,
of each series.

Undesignated preferred stock