Runway Growth Finance Corp. Announces Second Quarter Dividend of $0.40 with $0.05 Supplemental Distribution

Rhea-AI Summary

Runway Growth Finance Corp. (Nasdaq: RWAY) has declared a second quarter 2023 cash distribution of $0.40 per share, along with a supplemental dividend of $0.05 per share. The company intends to declare and pay a similar supplemental dividend for each subsequent fiscal quarter during 2023.

Positive

• Runway Growth declares a cash distribution of $0.40 per share for Q2 2023.
• Supplemental dividend of $0.05 per share also declared.
• Intends to declare and pay a similar supplemental dividend for each subsequent fiscal quarter in 2023.

Negative

• None.

WOODSIDE, Calif., May 03, 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 second quarter 2023 cash distribution of $0.40 per share. In addition, the Board of Directors declared a supplemental dividend of $0.05 per share. Runway Growth intends to declare and pay a similar supplemental dividend for each subsequent fiscal quarter during 2023, subject to future approval by the Board of Directors.

The following shows the key dates of the second quarter 2023 dividend, including the supplemental dividend:

Declaration Date: May 2, 2023
Record Date: May 15, 2023
Payment Date: May 31, 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

What is the cash distribution declared by Runway Growth for Q2 2023?

Runway Growth has declared a cash distribution of $0.40 per share for the second quarter of 2023.

Will there be a supplemental dividend for subsequent quarters in 2023?

Yes, Runway Growth intends to declare and pay a similar supplemental dividend for each subsequent fiscal quarter during 2023.

What are the key dates for the second quarter 2023 dividend?

The key dates for the second quarter 2023 dividend, including the supplemental dividend, are as follows: Declaration Date: May 2, 2023, Record Date: May 15, 2023, Payment Date: May 31, 2023.