Hercules Capital Announces Supplemental Cash Distribution of $0.07 Per Share for the Second Quarter Of 2021
Hercules Capital, Inc. (NYSE: HTGC) has announced a supplemental cash distribution of $0.07 per share, to be paid from undistributed taxable income as of June 30, 2021. The distribution will be made on August 18, 2021, with a record date of August 11, 2021. This is in addition to the regular quarterly cash distribution of $0.32 per share for Q2 2021. Hercules aims to distribute approximately 90% to 100% of its taxable income annually. Notably, 87.7% of the Q2 distributions are classified as Qualified Interest Income, possibly exempt from U.S. withholding tax for foreign investors.
- Announced supplemental cash distribution of $0.07 per share.
- Total distributions for Q2 2021 including the regular cash distribution amount to $0.39 per share.
- 87.7% of the Q2 distributions are Qualified Interest Income, potentially exempt from U.S. withholding tax for non-U.S. shareholders.
- None.
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, is pleased to announce that its Board of Directors has declared a supplemental cash distribution of
This supplemental cash distribution will be paid out of Hercules Capital’s undistributed taxable income (taxable income in excess of distributions paid) as of June 30, 2021. The following shows the key dates of the supplemental distribution payment:
Record Date August 11, 2021
Payment Date August 18, 2021
This supplemental cash distribution is in addition to the previously announced regular quarterly cash distribution that Hercules declared for the second quarter of 2021 of
Hercules' Board of Directors maintains a variable distribution policy with the objective of distributing four quarterly distributions in an amount that approximates
The determination of the tax attributes of the Company's distributions is made annually as of the end of the Company's 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. Of the distributions declared during the quarter ended June 30, 2021,
Pursuant to Internal Revenue Code Section 871(k), certain funds generate “Qualified Interest Income” (QII) that may be exempt for U.S. withholding tax on foreign accounts. A regulated investment company (“RIC”) is permitted to designated distributions of QII as exempt from U.S. withholding tax when paid to non-U.S. shareholders with proper documentation.
The percentage of QII for distributions declared for the second quarter ended June 30, 2021 on Hercules Capital, Inc.’s common stock is
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broad variety of technology, life sciences and sustainable and renewable technology industries. Since inception (December 2003), Hercules has committed more than
Hercules’ common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol “HTGC.” In addition, Hercules has one retail bond issuance of
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act of 1933, as amended, and Section 21E(b)(2)(B) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports we file under the Exchange Act.
The information disclosed in this press release is made as of the date hereof and reflects Hercules’ most current assessment of its historical financial performance. Actual financial results filed with the SEC may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. 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 volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although Hercules believes 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210727005143/en/
FAQ
What is the cash distribution amount declared by Hercules Capital, Inc. for August 2021?
When will the supplemental cash distribution for Hercules Capital, Inc. be paid?
What percentage of the Q2 distributions for 2021 is Qualified Interest Income?
What is the total distribution for Hercules Capital, Inc. in the second quarter of 2021?
What is the record date for the supplemental cash distribution from Hercules Capital, Inc.?
