Company: BWNB
Filing Date: 2025-06-10
Form Type: 424B5
Source: 0001104659-25-058204
Chunk: 36

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-06-10
Form: 424B5
Chunk 36
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 so payable for the period from and after that dividend payment date to that next
succeeding business day.

Any dividend, including any
dividend payable on the Series A Preferred Stock for any dividend period (or portion thereof) will be computed on the basis of a
360-day year consisting of twelve 30-day months. Dividends are payable to holders of record of Series A Preferred Stock as they
appear in the transfer agent’s records at the close of business on the applicable record date, which will be the date that our
board of directors (or a duly authorized committee of our board of directors) designates for the payment of a dividend that is not more
than 30 nor less than 10 days prior to the dividend payment date.

| 10 |

Our board of directors (or
a duly authorized committee of our board of directors) will not authorize, pay or set apart for payment by us any dividend on the Series A
Preferred Stock at any time that:

| · | the terms and provisions                                                                                                         
 of any of our agreements, including any agreement relating to our indebtedness, prohibits such authorization, payment or setting 
 apart for payment;                                                                                                               |

| · | the terms and provisions                                                                                                             
 of any of our agreements, including any agreement relating to our indebtedness, provides that such authorization, payment or setting 
 apart for payment thereof would constitute a breach of, or a default under, such agreement; or                                       |

| · | the law restricts or prohibits 
 the authorization or payment.  |

Notwithstanding the foregoing, dividends on the
Series A Preferred Stock will accumulate whether or not:

| · | the terms and provisions                                                                                                 
 of any of our agreements relating to our indebtedness prohibit such authorization, payment or setting apart for payment; |

| · | we have earnings; |

| · | there are funds legally                        
 available for the payment of the dividends; or |

| · | the dividends are authorized. |

Accordingly, if our board
of directors (or a duly authorized committee of our board of directors) does not declare a dividend on the Series A Preferred Stock
payable in respect of any dividend period before the related dividend payment date, such dividend shall accumulate and an amount equal
to such accumulated dividend shall become payable out of funds legally available therefor upon the liquidation, dissolution or winding
up of our affairs (or earlier redemption of such Series A Preferred Stock), to the extent not paid prior to such liquidation, dissolution
or winding-up or earlier redemption