StoneCastle Financial Corp. Announces Cash Distribution of $0.38 Per Share for Third Quarter 2021

Rhea-AI Summary

StoneCastle Financial Corp. (Nasdaq: BANX) has announced a cash distribution of $0.38 per share for Q3 2021. This distribution will be payable on September 28, 2021, to shareholders of record as of September 21, 2021. The press release highlights that some distributions may include returns of capital, not solely from net investment income. Shareholders will receive a Form 1099-DIV for tax reporting purposes at year-end, detailing distribution components.

Positive

• Declared cash distribution of $0.38 per share for Q3 2021.

Negative

• A portion of distributions may include return of capital, which is not from income.

DENVER, Sept. 10, 2021 (GLOBE NEWSWIRE) -- StoneCastle Financial Corp. (Nasdaq: BANX) ("StoneCastle Financial" or the "Company"), an SEC registered closed-end management investment company, today announced that its Board of Directors has declared a cash distribution of $0.38 per share for the third quarter 2021. The distribution will be payable on September 28, 2021 to shareholders of record on September 21, 2021.

Disclosures

A portion of the Company’s distributions may, from time to time, include sources other than net investment income, including a return of capital. Investors should understand that a return of capital is not a distribution from income or gains of a Company. As required under the Investment Company Act of 1940, as amended, a notice with the estimated components of the distribution will be sent to shareholders at the time of payment if it does not consist solely of net investment income. The notice should not be used to prepare tax returns as the estimates indicated in the notice may differ from the ultimate federal income tax characterization of distributions. After the end of each calendar year, investors will be sent a Form 1099-DIV informing them how to report distributions received during that year for federal income tax purposes.

About StoneCastle Financial

StoneCastle Financial is an SEC registered non-diversified, closed-end investment company listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide stockholders with current income. StoneCastle Financial is managed by StoneCastle-ArrowMark Asset Management, LLC. To learn more, visit www.stonecastle-financial.com.

Forward-Looking Statements

This press release contains statements that are not historical facts and are forward-looking statements based on current management expectations involving substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Actual future results may differ significantly from those stated in any forward-looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of shares of common stock, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in StoneCastle Financial’s filings with the SEC.

CONTACT:

Investor Contact:
Julie Muraco                                
212-468-5441
Source: StoneCastle Financial Corp.

FAQ

What is the cash distribution for BANX in Q3 2021?

StoneCastle Financial Corp. announced a cash distribution of $0.38 per share for Q3 2021.

When will the distribution for BANX be paid?

The distribution will be payable on September 28, 2021.

When is the record date for BANX's distribution?

The record date for the distribution is September 21, 2021.

What does return of capital mean for BANX's distribution?

Return of capital indicates that some of the distribution may not be sourced from net investment income.

What tax form will BANX shareholders receive for distributions?

Shareholders will receive a Form 1099-DIV for tax reporting on distributions.