Hercules Capital Declares a Total Cash Distribution of $0.48 Per Share for the Second Quarter 2024
Hercules Capital (NYSE: HTGC) has declared a total cash distribution of $0.48 per share for the second quarter of 2024. This distribution comprises a $0.40 per share base distribution and an $0.08 per share supplemental distribution. The record date is set for August 13, 2024, with the payment date on August 20, 2024.
Hercules maintains a variable distribution policy, aiming to distribute 90% to 100% of its taxable quarterly income. The Board may also pay additional supplemental distributions to distribute approximately all annual taxable income in the year earned. For the quarter ended June 30, 2024, 100% of the distributions were derived from current and accumulated earnings and profits. Additionally, 80.74% of the distributions qualify as Qualified Interest Income (QII), which may be exempt from U.S. withholding tax on foreign accounts.
Hercules Capital (NYSE: HTGC) ha dichiarato una distribuzione totale in contante di $0,48 per azione per il secondo trimestre del 2024. Questa distribuzione comprende una distribuzione base di $0,40 per azione e una distribuzione supplementare di $0,08 per azione. La data di registrazione è fissata per il 13 agosto 2024, con la data di pagamento prevista per il 20 agosto 2024.
Hercules mantiene una politica di distribuzione variabile, mirando a distribuire il 90% fino al 100% del suo reddito imponibile trimestrale. Il Consiglio può anche effettuare ulteriori distribuzioni supplementari per distribuire praticamente tutto il reddito imponibile annuale nell'anno in cui è guadagnato. Per il trimestre concluso il 30 giugno 2024, il 100% delle distribuzioni è derivato da utili e profitti attuali e accumulati. Inoltre, l'80,74% delle distribuzioni è qualificato come Reddito di Interesse Qualificato (QII), che può essere esente da ritenuta fiscale statunitense sui conti esteri.
Hercules Capital (NYSE: HTGC) ha declarado una distribución total en efectivo de $0,48 por acción para el segundo trimestre de 2024. Esta distribución comprende una distribución base de $0,40 por acción y una distribución suplementaria de $0,08 por acción. La fecha de registro está fijada para el 13 de agosto de 2024, con la fecha de pago programada para el 20 de agosto de 2024.
Hercules mantiene una política de distribución variable, buscando distribuir entre el 90% y el 100% de su ingreso imponible trimestral. La Junta también puede pagar distribuciones suplementarias adicionales para distribuir prácticamente todos los ingresos imponibles anuales en el año en que se ganan. Para el trimestre que terminó el 30 de junio de 2024, el 100% de las distribuciones se derivaron de ganancias y beneficios actuales y acumulados. Además, el 80,74% de las distribuciones califica como Ingreso de Interés Calificado (QII), que puede estar exento de la retención fiscal de EE. UU. en cuentas extranjeras.
헤라클레스 캐피탈 (NYSE: HTGC)은 2024년 2분기에 대해 주당 $0.48의 총 현금 배당을 선언했습니다. 이 배당은 주당 $0.40의 기본 배당과 주당 $0.08의 추가 배당으로 구성됩니다. 기록일은 2024년 8월 13일로 설정되었으며, 지급일은 2024년 8월 20일입니다.
헤라클레스는 변동 배당 정책을 유지하고 있으며, 분기 과세 소득의 90%에서 100%를 분배하는 것을 목표로 하고 있습니다. 이사회는 연간 과세 소득을 거의 모두 배분하기 위해 추가적인 보충 배당도 지급할 수 있습니다. 2024년 6월 30일 종료된 분기에 대해, 배당금의 100%는 현재 및 누적된 수익에서 발생했습니다. 또한, 배당금의 80.74%는 자격 있는 이자 수입(QII)으로 간주되며, 이는 외국 계좌에 대한 미국 원천징수세에서 면제될 수 있습니다.
Hercules Capital (NYSE: HTGC) a déclaré une distribution totale en espèces de 0,48 $ par action pour le deuxième trimestre de 2024. Cette distribution se compose d'une distribution de base de 0,40 $ par action et d'une distribution supplémentaire de 0,08 $ par action. La date d'enregistrement est fixée au 13 août 2024, avec une date de paiement prévue le 20 août 2024.
Hercules maintient une politique de distribution variable, visant à distribuer 90 % à 100 % de son revenu imposable trimestriel. Le Conseil peut également verser des distributions supplémentaires pour répartir presque la totalité du revenu imposable annuel au cours de l'année où il est perçu. Pour le trimestre se terminant le 30 juin 2024, 100 % des distributions provenaient des bénéfices et profits actuels et accumulés. De plus, 80,74 % des distributions sont considérées comme des revenus d'intérêts qualifiés (QII), qui peuvent être exemptés de la retenue d'impôt américaine sur les comptes étrangers.
Hercules Capital (NYSE: HTGC) hat eine Gesamtauszahlung in bar von 0,48 USD pro Aktie für das zweite Quartal 2024 erklärt. Diese Auszahlung besteht aus einer Basisverteilung von 0,40 USD pro Aktie und einer zusätzlichen Verteilung von 0,08 USD pro Aktie. Das Stichtdatum ist auf den 13. August 2024 festgelegt, das Zahlungsdatum ist der 20. August 2024.
Hercules verfolgt eine variable Verteilungspolitik, die darauf abzielt, 90 % bis 100 % seines steuerpflichtigen quartalsweisen Einkommens zu verteilen. Der Vorstand kann auch zusätzliche Ausschüttungen vornehmen, um nahezu das gesamte jährliche steuerpflichtige Einkommen im Jahre, in dem es erzielt wird, auszuschütten. Für das am 30. Juni 2024 endende Quartal stammten 100 % der Ausschüttungen aus aktuellen und angesammelten Erträgen. Darüber hinaus qualifizieren sich 80,74 % der Ausschüttungen als qualifizierte Zinserträge (QII), die von der US-Quellensteuer auf ausländische Konten befreit sein können.
- Declared a total cash distribution of $0.48 per share for Q2 2024
- 100% of distributions derived from current and accumulated earnings and profits
- 80.74% of distributions qualify as Qualified Interest Income (QII)
- None.
Insights
Hercules Capital's declaration of a
The variable distribution policy, aiming to distribute 90% to 100% of taxable quarterly income, aligns with the company's business model as a Business Development Company (BDC). This approach allows Hercules to maintain flexibility while providing attractive yields to investors. The
However, investors should be cautious about extrapolating this quarter's distribution to future periods. The company's emphasis on the annual nature of tax attribute determinations suggests that the composition and sustainability of distributions may vary. Additionally, the ability to "spill over" excess taxable income introduces an element of unpredictability in future distribution patterns.
Overall, while this distribution signals financial health, investors should closely monitor Hercules' portfolio performance and market conditions, as these factors will ultimately drive the company's ability to maintain or grow its distributions in the long term.
Hercules Capital's latest distribution announcement underscores its position as the "largest and leading specialty finance provider" in the venture and growth capital space. This
The company's focus on "venture, growth and established stage companies backed by leading venture capital and select private equity firms" suggests a well-diversified portfolio across various stages of company development. This strategy potentially mitigates risks associated with early-stage investments while capturing upside from rapidly growing firms.
However, the current economic environment presents both opportunities and challenges for Hercules. On one hand, tighter traditional lending markets may drive more companies towards specialty finance providers, potentially expanding Hercules' deal flow. On the other hand, valuation pressures and a slower exit environment could impact the performance of portfolio companies and, consequently, Hercules' income.
Investors should pay close attention to Hercules' portfolio composition, sector allocation and the overall health of the venture capital ecosystem when assessing the sustainability of such distributions. The company's ability to maintain this level of shareholder returns will largely depend on its continued success in identifying and supporting high-potential companies in a competitive and ever-evolving technology landscape.
The Total Cash Distribution of
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 second quarter 2024 total cash distribution of
Record Date August 13, 2024
Payment Date August 20, 2024
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, 2024,
Pursuant to Internal Revenue Code Section 871(k), certain funds generate “Qualified Interest Income” (QII) that may be exempt for
The percentage of QII for distributions declared for the second quarter ended June 30, 2024 on Hercules’ 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 and life sciences industries. Since inception (December 2003), Hercules has committed more than
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
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240730789438/en/
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 declared by Hercules Capital (HTGC) for Q2 2024?
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