Hercules Technology Growth Capital Announces Quarterly Dividend of $0.24 per Share; Its Twenty-Ninth Consecutive Quarterly Di...
November 01 2012 - 3:15PM
Business Wire
Hercules Technology Growth Capital, Inc. (NYSE: HTGC)
(“Hercules”), the leading specialty finance company focused on
providing senior secured loans to venture capital-backed companies
in technology-related markets, including technology, biotechnology,
life science, and cleantech industries, at all stages of
development, today announced that its Board of Directors has
declared a third quarter cash dividend of $0.24 per
share, that will be payable on November 21, 2012, to
shareholders of record as of November 14, 2012.
Hercules’ Board of Directors maintains a variable dividend
policy with the objective of distributing four quarterly
distributions in an amount that approximates 90 - 100% of our
taxable quarterly income or potential annual income for a
particular year. In addition, at the end of the year, we may also
pay an additional special dividend or fifth dividend; such that we
may distribute approximately all of our annual taxable income in
the year it was earned, while maintaining the option to spill over
our excess taxable income.
The determination of the tax attributes of Hercules’
distributions is made annually as of the end of Hercules’ fiscal
year based upon its taxable income for the full year and
distributions paid for the full year. Therefore, a determination
made on a quarterly basis may not be representative of the actual
tax attributes of its distributions for a full year. If we had
determined the tax attributes of our distributions year-to-date as
of September 30, 2012, approximately 100.0% would be from ordinary
income and spillover earnings from 2011. However, there can be no
certainty to shareholders that this determination is representative
of what the tax attributes of its 2012 distributions to
shareholders will actually be.
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. (NYSE: HTGC)
(“Hercules”) is the leading specialty finance company focused on
providing senior secured loans to venture capital-backed companies
in technology-related markets, including technology, biotechnology,
life science and cleantech industries at all stages of development.
Since inception (December 2003), Hercules has committed more than
$3.0 billion to over 215 companies and is the lender of choice for
entrepreneurs and venture capital firms seeking growth capital
financing.
Hercules’ common stock trades on the New York Stock Exchange
("NYSE") under the ticker symbol "HTGC."
In addition, Hercules has two outstanding bond issuances of
7.00% Senior Notes due 2019—the April 2019 Notes and September 2019
Notes—which trade on the NYSE under the symbols “HTGZ” and “HTGY,”
respectively.
Companies interested in learning more about financing
opportunities should contact info@htgc.com, or call
650.289.3060.
Forward-Looking Statements:
The statements contained in this release that are not purely
historical are forward-looking statements. These forward-looking
statements are not guarantees of future performance and are subject
to uncertainties and other factors that could cause actual results
to differ materially from those expressed in the forward-looking
statements including, without limitation, the risks, uncertainties,
including the uncertainties surrounding the current market
turbulence, and other factors we identify from time to time in our
filings with the Securities and Exchange Commission. Although we
believe that the assumptions on which these forward-looking
statements are based are reasonable, any of those assumptions could
prove to be inaccurate and, as a result, the forward-looking
statements based on those assumptions also could be incorrect. You
should not place undue reliance on these forward-looking
statements. The forward-looking statements contained in this
release are made as of the date hereof, and Hercules assumes no
obligation to update the forward-looking statements for subsequent
events.
Hercules Capital (NYSE:HTGC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hercules Capital (NYSE:HTGC)
Historical Stock Chart
From Jul 2023 to Jul 2024