StoneCastle Financial Corp. Announces Special Distribution of $0.10 and Regular Cash Distribution of $0.38 per Share for Fourth Quarter 2021

Rhea-AI Summary

StoneCastle Financial (Nasdaq: BANX) announced a total cash distribution of $0.48 per share, comprising a special cash distribution of $0.10 and a regular distribution of $0.38 for Q4 2021. This reflects the company's prudent investment strategy and ability to generate excess income. The distribution is payable on January 5, 2022 to shareholders of record by December 29, 2021. The announcement emphasizes the company's commitment to maximizing shareholder returns, although part of the distribution may involve a return of capital.

Positive

• Declared a total cash distribution of $0.48 per share.
• Special cash distribution of $0.10 per share indicates excess income generation.
• Regular cash distribution of $0.38 per share reflects financial strength.

Negative

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

DENVER, Dec. 17, 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 special cash distribution of $0.10 per share generated from excess income, and a regular cash distribution of $0.38 per share for the fourth quarter 2021. The total distribution of $0.48 per share will be payable on January 5, 2022 to shareholders of record on December 29, 2021.

“This special distribution reflects the Company’s prudent investment strategy and our ability to generate income in excess of our regular quarterly dividends during 2021. It also reflects our continued commitment to maximizing total risk-adjusted returns and creating long-term value for our shareholders,” said Sanjai Bhonsle, Chairman & CEO.

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 total cash distribution announced by StoneCastle Financial (BANX)?

StoneCastle Financial announced a total cash distribution of $0.48 per share.

When will the cash distribution from StoneCastle Financial be paid?

The cash distribution will be payable on January 5, 2022.

What are the components of the cash distribution by StoneCastle Financial?

The distribution includes a special cash distribution of $0.10 per share and a regular distribution of $0.38 per share.

Who is eligible for the cash distribution from StoneCastle Financial?

Shareholders of record on December 29, 2021, are eligible for the distribution.

What does the cash distribution from StoneCastle Financial indicate about its financial strategy?

The distribution reflects the company's prudent investment strategy and ability to generate excess income.