Stellus Capital Investment Corporation Announces $0.40 First Quarter 2023 Regular Dividend, Payable Monthly in Increments of $0.1333 in February, March, and April 2023
HOUSTON, Jan. 12, 2023 /PRNewswire/ -- Stellus Capital Investment Corporation (the "Company") (NYSE: SCM) announced that its Board of Directors has declared a monthly dividend of $0.1333 for each of January, February, and March, totaling $0.40 per share in the aggregate for the first quarter of 2023. Robert T. Ladd, Chief Executive Officer of Stellus, stated, "I am pleased to announce a regular dividend for the first quarter of 2023 of $0.40 per share, in the aggregate, payable monthly. This dividend reflects a 43% increase over the fourth quarter regular dividend of $0.28 per share or an 18% increase over the combined fourth quarter dividends of $0.34 per share which included a regular dividend of $0.28 per share plus an additional dividend of $0.06 per share. This increase in our dividend reflects the greater earnings that we are generating in this higher interest rate environment in which our loan portfolio is over 95% floating rate and our liability structure is over 65% fixed rate." The regular dividend of $0.40 per share will be paid to shareholders of record in January, February, and March 2023.
Declared |
Ex-Dividend Date |
Record Date |
Payment Date |
Amount per Share |
1/11/2023 |
1/30/2023 |
1/31/2023 |
2/15/2023 |
$0.1333 |
1/11/2023 |
2/27/2023 |
2/28//2023 |
3/15/2023 |
$0.1333 |
1/11/2023 |
3/30/2023 |
3/31/2023 |
4/14/2023 |
$0.1333 |
The Company is an externally-managed, closed-end, non-diversified investment management company that has elected to be regulated as a business development company under the Investment Company Act of 1940. The Company's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation by investing primarily in private middle-market companies (typically those with $5.0 million to $50.0 million of EBITDA (earnings before interest, taxes, depreciation and amortization)) through first lien, second lien, unitranche and mezzanine debt financing, and corresponding equity investments. The Company's investment activities are managed by its investment adviser, Stellus Capital Management. To learn more about Stellus Capital Investment Corporation, visit www.stelluscapital.com under the "Public (SCIC)" link.
Statements included herein may contain "forward-looking statements" which relate to future performance or financial condition. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission including the final prospectus that will be filed with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contacts
Stellus Capital Investment Corporation
W. Todd Huskinson, (713) 292-5414
Chief Financial Officer
[email protected]
SOURCE Stellus Capital Investment Corporation
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