Runway Growth Announces First Quarter 2023 Dividend of $0.40 with $0.05 Supplemental Distribution
Runway Growth Finance Corp. (RWAY) has declared a first-quarter 2023 cash distribution of $0.40 per share, marking an 11% increase over the prior quarter's base dividend. This announcement represents the fifth consecutive quarterly increase since its public listing. Additionally, a supplemental dividend of $0.05 per share has also been declared, with intentions to maintain similar supplemental dividends throughout 2023, subject to Board approval. Key dates include the declaration date on February 23, 2023, record date on March 7, 2023, and payment date on March 21, 2023.
- Declared a cash distribution of $0.40 per share, an 11% increase from the previous quarter.
- Announced a supplemental dividend of $0.05 per share.
- Fifth consecutive quarter of dividend increases since public listing.
- Plans to maintain supplemental dividends throughout 2023.
- None.
WOODSIDE, Calif., Feb. 24, 2023 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth”), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today announced that its Board of Directors has declared a first quarter 2023 cash distribution of
The following shows the key dates of the first quarter 2023 dividend, including the supplemental dividend:
Declaration Date: February 23, 2023
Record Date: March 7, 2023
Payment Date: March 21, 2023
Runway Growth generally intends to distribute, out of assets legally available for distribution, substantially all of its available earnings, on a quarterly basis, subject to the discretion of the Board of Directors. The Company also maintains an “opt out” dividend reinvestment plan, as amended, for its stockholders. As a result, if the Company declares a distribution, then stockholders who have not opted out of the dividend reinvestment plan will have their cash dividends automatically reinvested in additional shares of the Company’s common stock.
About Runway Growth Finance Corp.
Runway Growth is a growing specialty finance company focused on providing flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity. Runway Growth is a closed-end investment fund that has elected to be regulated as a business development company under the Investment Company Act of 1940. Runway Growth is externally managed by Runway Growth Capital LLC, an established registered investment advisor that was formed in 2015 and led by industry veteran David Spreng. For more information, please visit www.runwaygrowth.com.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties, including the impact of COVID-19 and related changes in base interest rates and significant market volatility on our business, our portfolio companies, our industry and the global economy. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway Growth’s filings with the Securities and Exchange Commission. Runway Growth undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
IR Contacts:
Stefan Norbom, Prosek Partners, snorbom@prosek.com
Thomas B. Raterman, Chief Financial Officer and Chief Operating Officer, tr@runwaygrowth.com
FAQ
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