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Hercules Capital, Inc. (NYSE: HTGC) declared a total cash distribution of $0.48 per share for the first quarter of 2024, consisting of a $0.40 per share base distribution and an $0.08 per share supplemental distribution. The company aims to distribute 90% to 100% of its taxable quarterly income or potential annual income. The distributions declared in the first quarter of 2024 were derived from the company's current and accumulated earnings and profits. Hercules also designated 83.85% of Qualified Interest Income for the first quarter of 2024 as exempt from U.S. withholding tax for non-U.S. shareholders.
Hercules Capital, Inc. (NYSE: HTGC) ha annunciato una distribuzione totale in contanti di 0,48 dollari per azione per il primo trimestre del 2024, composta da una distribuzione base di 0,40 dollari per azione e una distribuzione supplementare di 0,08 dollari per azione. La società prevede di distribuire tra il 90% e il 100% del suo reddito imponibile trimestrale o del potenziale reddito annuale. Le distribuzioni dichiarate nel primo trimestre del 2024 derivano dagli utili correnti e accumulati della società. Hercules ha inoltre designato l'83,85% del Reddito da Interessi Qualificato del primo trimestre 2024 come esente dalla ritenuta fiscale statunitense per gli azionisti non statunitensi.
Hercules Capital, Inc. (NYSE: HTGC) ha declarado una distribución total en efectivo de $0,48 por acción para el primer trimestre de 2024, que incluye una distribución base de $0,40 por acción y una distribución suplementaria de $0,08 por acción. La compañía tiene como objetivo distribuir entre el 90% y el 100% de sus ingresos tributables trimestrales o el potencial ingreso anual. Las distribuciones declaradas en el primer trimestre de 2024 provienen de las ganancias corrientes y acumuladas de la empresa. Hercules también ha designado el 83,85% del Ingreso por Intereses Calificados del primer trimestre de 2024 como exento del impuesto de retención de EE. UU. para los accionistas no estadounidenses.
Hercules Capital, Inc. (NYSE: HTGC)는 2024년 1분기에 주당 0.40달러의 기본 배분과 주당 0.08달러의 추가 배분을 포함하여 총 0.48달러의 현금 배분을 선언했습니다. 회사는 분기별 과세 소득 또는 잠재적 연간 소득의 90%에서 100%를 배분할 목표를 가지고 있습니다. 2024년 1분기에 선언된 배분은 회사의 현재 및 누적 이익에서 비롯되었습니다. 또한, Hercules는 2024년 1분기의 자격 있는 이자 소득의 83.85%를 미국 이외의 주주들에 대한 미국 원천징수 세금 면제로 지정했습니다.
Hercules Capital, Inc. (NYSE: HTGC) a déclaré une distribution totale en espèces de 0,48 dollar par action pour le premier trimestre de 2024, composée d'une distribution de base de 0,40 dollar par action et d'une distribution supplémentaire de 0,08 dollar par action. La société vise à distribuer entre 90% et 100% de son revenu imposable trimestriel ou de son revenu annuel potentiel. Les distributions déclarées pour le premier trimestre de 2024 proviennent des bénéfices courants et accumulés de la société. Hercules a également désigné 83,85% des Revenus d'Intérêts Qualifiés pour le premier trimestre de 2024 comme exonérés de la retenue à la source américaine pour les actionnaires non américains.
Hercules Capital, Inc. (NYSE: HTGC) hat für das erste Quartal 2024 eine Gesamtausschüttung von 0,48 US-Dollar pro Aktie angekündigt, die sich aus einer Basisausschüttung von 0,40 US-Dollar pro Aktie und einer zusätzlichen Ausschüttung von 0,08 US-Dollar pro Aktie zusammensetzt. Das Unternehmen beabsichtigt, 90% bis 100% seines steuerpflichtigen Quartalseinkommens oder des potenziellen Jahresertrags auszuschütten. Die im ersten Quartal 2024 deklarierten Ausschüttungen stammen aus den aktuellen und angesammelten Gewinnen und Erlösen des Unternehmens. Hercules hat außerdem 83,85% des qualifizierten Zinsertrags für das erste Quartal 2024 als von der US-Quellensteuer für nicht-US-Aktionäre befreit designiert.
Positive
Hercules Capital declared a cash distribution of $0.48 per share for the first quarter of 2024, providing shareholders with income.
The company aims to distribute a significant portion of its taxable income to shareholders, showcasing financial stability and investor-friendly policies.
Negative
There is a potential risk that the determination of tax attributes made quarterly may not accurately represent the full-year tax attributes, which could lead to uncertainties for stockholders.
The Total Cash Distribution of $0.48 per Share for the First Quarter 2024 is Comprised of a $0.40 per Share Base Distribution and an $0.08 per Share Supplemental Distribution
SAN MATEO, Calif.--(BUSINESS WIRE)--
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the largest and leading specialty finance 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 first quarter 2024 total cash distribution of $0.48 per share. The following shows the key dates of the first quarter 2024 distribution payment:
Record Date
May 14, 2024
Payment Date
May 21, 2024
Hercules' Board of Directors maintains a variable distribution policy with the objective of distributing four quarterly distributions in an amount that approximates 90% to 100% of the Company’s taxable quarterly income or potential annual income for a particular year. In addition, during the year, the Company’s Board of Directors may choose to pay additional supplemental distributions, so that the Company may distribute approximately all its annual taxable income in the year it was earned, or it can elect to maintain the option to spill over the excess taxable income into the coming year for future distribution payments.
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 March 31, 2024, 100% were distributions derived from the Company’s current and accumulated earnings and profits. There can be no certainty to stockholders that this determination is representative of the tax attributes of the Company’s 2024 full year distributions to stockholders.
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 designate 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 first quarter ended March 31, 2024 on Hercules’ common stock is 83.85%.
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 $20.0 billion to over 650 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Companies interested in learning more about financing opportunities should contact info@htgc.com, or call (650) 289-3060.
Hercules, through its wholly owned subsidiary business, Hercules Adviser LLC (the “Adviser Subsidiary”), also maintains an asset management business through which it manages investments for external parties (“Adviser Funds”). The Adviser Subsidiary is registered as an investment adviser under the Investment Advisers Act of 1940.
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 6.25% Notes due 2033 (NYSE: HCXY).
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We may use words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may” and similar expressions to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and should not be relied upon in making any investment decision. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. While we cannot identify all such risks and uncertainties, we urge you to read the risks discussed in our Annual Report on Form 10-K and other materials that we publicly file with the Securities and Exchange Commission. Any forward-looking statements made in this press release are made only as of the date hereof. Hercules assumes no obligation to update any such statements in the future.
Michael Hara
Investor Relations and Corporate Communications
Hercules Capital, Inc.
(650) 433-5578
mhara@htgc.com
Source: Hercules Capital, Inc.
FAQ
What is the total cash distribution per share declared by Hercules Capital for the first quarter of 2024?
Hercules Capital declared a total cash distribution of $0.48 per share for the first quarter of 2024.
What is the breakdown of the $0.48 per share total cash distribution for the first quarter of 2024?
The total cash distribution of $0.48 per share for the first quarter of 2024 consists of a $0.40 per share base distribution and an $0.08 per share supplemental distribution.
What percentage of Qualified Interest Income was designated as exempt from U.S. withholding tax for non-U.S. shareholders?
Hercules Capital designated 83.85% of Qualified Interest Income as exempt from U.S. withholding tax for non-U.S. shareholders for the first quarter of 2024.
