Chicago Atlantic BDC, Inc. Declares $0.34 Cash Dividend for Fourth Quarter 2024
December 06 2024 - 6:00AM
Chicago Atlantic BDC, Inc. (“the “Company”) (NASDAQ: LIEN), a
specialty finance company that has elected to be regulated as a
business development company, today announced that the Company’s
board of directors has declared a cash dividend of $0.34 per share
for the quarter ending December 31, 2024, which represents a 36%
increase from the $0.25 per share dividend for the quarter ended
September 30, 2024.
The following are the key dates for the dividend:
Record Date |
December 19, 2024 |
Payment Date |
December 27, 2024 |
The Company has adopted a dividend reinvestment plan (“DRIP”)
that provides for reinvestment of dividends on behalf of its
stockholders, unless a stockholder elects to receive cash. As a
result, when the Company declares a cash dividend, stockholders who
have not “opted out” of the DRIP in accordance with the terms of
the DRIP and the procedures of their broker or other financial
intermediary will have their cash dividends automatically
reinvested in additional shares of the Company’s common stock. A
stockholder whose shares are held by a broker or other financial
intermediary should contact their broker or other financial
intermediary as soon as possible in order to determine the time by
which the stockholder must take action in order to receive
dividends in cash.
About Chicago Atlantic BDC, Inc.The Company is
a specialty finance company that has elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended, and has elected to be treated as a regulated
investment company for U.S. federal income tax purposes. The
Company’s investment objective is to maximize risk-adjusted returns
on equity for its stockholders by investing primarily in direct
loans to privately held middle-market companies, with a primary
focus on cannabis companies. The Company is managed by Chicago
Atlantic BDC Advisers, LLC, an investment manager focused on the
cannabis and other niche or underfollowed sectors. For more
information, please visit lien.chicagoatlantic.com.
Forward-Looking Statements Certain information
contained herein may constitute “forward-looking statements” that
involve substantial risks and uncertainties. Such statements
involve known and unknown risks, uncertainties and other factors
and undue reliance should not be placed thereon. These
forward-looking statements are not historical facts, but rather are
based on current expectations, estimates and projections about the
Company, its current and prospective portfolio investments, its
industry, its beliefs and opinions, and its assumptions. Words such
as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,”
“continue,” “believes,” “seeks,” “estimates,” “would,” “could,”
“should,” “targets,” “projects,” “outlook,” “potential,” “predicts”
and variations of these words and similar expressions are intended
to identify forward-looking statements. These statements are not
guarantees of future performance and are subject to risks,
uncertainties and other factors, some of which are beyond the
Company’s control and difficult to predict and could cause actual
results to differ materially from those expressed or forecasted in
the forward-looking statements including, without limitation, the
risks, uncertainties and other factors identified in the Company’s
filings with the Securities and Exchange Commission. Investors
should not place undue reliance on these forward-looking
statements, which apply only as of the date on which the Company
makes them. The Company does not undertake any obligation to update
or revise any forward-looking statements or any other information
contained herein, except as required by applicable law.
Contact:Tripp Sullivan SCR Partners, LLC
LIEN@chicagoatlantic.com
Chicago Atlantic BDC (NASDAQ:LIEN)
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