Stellus Capital Investment Corporation Announces $0.40 First Quarter 2023 Regular Dividend, Payable Monthly in Increments of $0.1333 in February, March, and April 2023

Rhea-AI Summary

Stellus Capital Investment Corporation (NYSE: SCM) declared a monthly dividend of $0.1333 for January, February, and March 2023, amounting to a total of $0.40 per share. This reflects a 43% increase from the previous quarter's dividend of $0.28 per share and an 18% increase over combined fourth quarter dividends. The dividend increase is attributed to stronger earnings driven by a floating-rate loan portfolio and a fixed-rate liability structure. Shareholders of record will receive the dividend payable on February 15, March 15, and April 14, 2023.

Positive

• Declared a total dividend of $0.40 for Q1 2023, a 43% increase over the prior quarter.
• Significant earnings growth attributed to over 95% of portfolio in floating-rate loans.

Negative

• None.

HOUSTON, Jan. 12, 2023 /PRNewswire/ -- Stellus Capital Investment Corporation (the "Company") (NYSE: SCM) announced that its Board of Directors has declared a monthly dividend of $0.1333 for each of January, February, and March, totaling $0.40 per share in the aggregate for the first quarter of 2023. Robert T. Ladd, Chief Executive Officer of Stellus, stated, "I am pleased to announce a regular dividend for the first quarter of 2023 of $0.40 per share, in the aggregate, payable monthly.  This dividend reflects a 43% increase over the fourth quarter regular dividend of $0.28 per share or an 18% increase over the combined fourth quarter dividends of $0.34 per share which included a regular dividend of $0.28 per share plus an additional dividend of $0.06 per share. This increase in our dividend reflects the greater earnings that we are generating in this higher interest rate environment in which our loan portfolio is over 95% floating rate and our liability structure is over 65% fixed rate." The regular dividend of $0.40 per share will be paid to shareholders of record in January, February, and March 2023.

Summary of First Quarter 2023 Regular Monthly Dividends

Declared	Ex-Dividend Date	Record Date	Payment Date	Amount per Share
1/11/2023	1/30/2023	1/31/2023	2/15/2023	$0.1333
1/11/2023	2/27/2023	2/28//2023	3/15/2023	$0.1333
1/11/2023	3/30/2023	3/31/2023	4/14/2023	$0.1333

About Stellus Capital Investment Corporation

The Company is an externally-managed, closed-end, non-diversified investment management company that has elected to be regulated as a business development company under the Investment Company Act of 1940. The Company's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation by investing primarily in private middle-market companies (typically those with $5.0 million to $50.0 million of EBITDA (earnings before interest, taxes, depreciation and amortization)) through first lien, second lien, unitranche and mezzanine debt financing, and corresponding equity investments. The Company's investment activities are managed by its investment adviser, Stellus Capital Management. To learn more about Stellus Capital Investment Corporation, visit www.stelluscapital.com under the "Public (SCIC)" link.

FORWARD-LOOKING STATEMENTS

Statements included herein may contain "forward-looking statements" which relate to future performance or financial condition. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission including the final prospectus that will be filed with the Securities and Exchange Commission. The Company 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.

Contacts
Stellus Capital Investment Corporation
W. Todd Huskinson, (713) 292-5414
Chief Financial Officer
thuskinson@stelluscapital.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/stellus-capital-investment-corporation-announces-0-40-first-quarter-2023-regular-dividend-payable-monthly-in-increments-of-0-1333-in-february-march-and-april-2023--301719895.html

SOURCE Stellus Capital Investment Corporation

FAQ

What is the dividend amount declared by Stellus Capital Investment Corporation for Q1 2023?

The total dividend declared is $0.40 per share for the first quarter of 2023.

When will the dividends be paid to shareholders of Stellus Capital?

The dividends will be paid on February 15, March 15, and April 14, 2023.

How does the Q1 2023 dividend compare to the previous quarter's dividend for SCM?

The Q1 2023 dividend is a 43% increase from the prior quarter's regular dividend of $0.28 per share.

What factors contributed to the increase in Stellus Capital's dividend?

The increase is based on greater earnings generated from the company's loan portfolio, which is predominantly floating rate.