Company: MATV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001000623-25-000024
Chunk: 35

Company: Mativ Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 35
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4 million change was due to a decrease in net changes of accounts payable and other current liabilities, partially offset by a decrease in net changes of accounts receivable. 

Cash Used In Investing Activities

Cash used in investing activities during the three months ended March 31, 2025 was $10.6 million, compared to cash outflows of $9.1 million during the prior year period, primarily attributable to changes in capital spending partially offset by proceeds from settlement of swap contracts. Capital spending was $13.9 million compared to $12.1 million in the prior year period.

Cash Provided By Financing Activities

Cash provided by financing activities during the three months ended March 31, 2025 was $24.5 million, compared to cash provided of $45.8 million during the prior year period. During the three months ended March 31, 2025, financing activities primarily consisted of $54.0 million of borrowings under the Revolving Facility, $5.5 million of dividends paid to the Company's stockholders, and payments on our long-term debt of $22.7 million.

During the prior year period, financing activities primarily consisted of $69.0 million of proceeds from borrowings under the Revolving Facility, $16.7 million of payments on our long-term debt, and $5.4 million of dividends paid to the Company's stockholders. 

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The Company presently believes the sources of liquidity discussed above are sufficient to meet our anticipated funding needs for the foreseeable future.

Dividends and Share Repurchases

On May 7, 2025, we announced a cash dividend of $0.10 per share payable on June 27, 2025 to stockholders of record as of May 23, 2025. The covenants contained in the Indenture governing the Notes and Amended Credit Agreement require that we maintain certain financial ratios as disclosed in Note 9. Debt of the notes to the unaudited condensed consolidated financial statements, none of which under normal business conditions materially limit our ability to pay such dividends. We will continue to assess our dividend policy in light of our overall strategy, cash generation, debt levels and ongoing requirements for cash to fund operations and to pursue possible strategic opportunities.

Debt Instruments and Related Covenants

The following table presents activity related to our debt instruments for the three months ended March 31, 2025 and 2024 (in millions):

Three Months EndedMarch 31,20252024Proceeds from long-term debt