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

Rhea-AI Summary

Runway Growth Finance Corp. (Nasdaq: RWAY) declares a third quarter 2023 cash distribution of $0.40 per share and a supplemental dividend of $0.05 per share. The key dates for the dividend are: Declaration Date: August 1, 2023, Record Date: August 15, 2023, Payment Date: August 31, 2023. The company intends to continue similar supplemental dividends for subsequent fiscal quarters in 2023.

Positive

• Runway Growth Finance Corp. (Nasdaq: RWAY) is providing a cash distribution and supplemental dividend, indicating financial stability and potential investor returns.

Negative

• None.

MENLO PARK, Calif., Aug. 01, 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 third quarter 2023 cash distribution of $0.40 per share. In addition, the Board of Directors declared a supplemental dividend of $0.05 per share, for the third quarter of 2023. 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 third quarter 2023 dividend, including the supplemental dividend:

Declaration Date: August 1, 2023
Record Date: August 15, 2023
Payment Date: August 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, Acting President, Chief Financial Officer and Chief Operating Officer, tr@runwaygrowth.com

FAQ

What is the cash distribution declared by Runway Growth Finance Corp. for the third quarter of 2023?

The cash distribution declared by Runway Growth Finance Corp. for the third quarter of 2023 is $0.40 per share.

What are the key dates for the dividend declared by Runway Growth Finance Corp. for the third quarter of 2023?

The key dates for the dividend are: Declaration Date: August 1, 2023, Record Date: August 15, 2023, Payment Date: August 31, 2023.

Does Runway Growth Finance Corp. have an 'opt out' dividend reinvestment plan?

Yes, the company maintains an 'opt out' dividend reinvestment plan for its stockholders. If the company declares a distribution, 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.