---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-21-019403"
form_type: "8-K"
ticker: "VIRC"
cik: "0000751365"
company_name: "VIRCO MFG CORPORATION"
filed_at: "2021-10-01T23:59:59+00:00"
generated_at: "2026-06-29T00:11:53.258652+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Virco amends credit facility, restores ability to pay dividends and buy back stock

## Summary
- New credit agreement with PNC Bank provides $65M revolving credit facility, maturing March 2023.
- Amendment allows shareholder distributions up to $3M per year, subject to no default and fixed charge coverage ratio of 1.20:1.00.
- CEO Robert Virtue cites positive business trends and balance sheet strength for restored distribution ability.
- Company has not yet decided on any dividends or buybacks, but now has flexibility to consider future distributions.
- All other material terms including borrowing base and interest rate margins remain unchanged from prior facility.

## SEC filing metadata
- accession: 0001628280-21-019403
- form_type: 8-K
- ticker: VIRC
- cik: 0000751365
- company_name: VIRCO MFG CORPORATION
- filed_at: 2021-10-01T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/751365/000162828021019403/0001628280-21-019403-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/751365/000162828021019403/virc-20210928.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-21-019403
- JSON: https://secwatch.observer/filing/0001628280-21-019403.json
- Plain text: https://secwatch.observer/filing/0001628280-21-019403.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.