Stellus Capital Investment Corporation Declares Second Quarter 2020 Regular Dividend of $0.25 Per Share

Rhea-AI Summary

Stellus Capital Investment Corporation (NYSE: SCM) has declared a regular quarterly dividend of $0.25 per share for the second quarter of 2020, marking a shift from monthly to quarterly payments. The dividend is attributed to the current lower interest rate environment. The ex-dividend date is set for July 14, 2020, with a record date of July 15, 2020, and payment scheduled for July 31, 2020. Looking ahead, the Company aims to declare its third-quarter dividend by September 30, 2020.

Positive

• Declared regular quarterly dividend of $0.25 per share.
• Shift from monthly to quarterly dividends signals a strategic adjustment in response to the interest rate environment.

Negative

• The reduction in dividend frequency may indicate challenges in cash flow or financial performance.

HOUSTON, July 1, 2020 /PRNewswire/ -- Stellus Capital Investment Corporation (the "Company") (NYSE: SCM) announced that yesterday its Board of Directors has declared a regular quarterly dividend for the second quarter of 2020 of $0.25 per share. As previously reported, the Company has changed the frequency of dividend payments from monthly to quarterly. "In light of the lower interest rate environment the Company is experiencing, we believe a dividend of $0.25 per share is appropriate for the second quarter. For the third quarter of 2020, we expect to declare the dividend by September 30th", said Robert T. Ladd, Chief Executive Officer of the Company.

Second Quarter 2020 Regular Quarterly Dividend

Declared	Ex-Dividend Date	Record Date	Payment Date	Amount per Share
6/30/20	7/14/20	7/15/20	7/31/20	$0.2500

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 Investors" 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

 

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SOURCE Stellus Capital Investment Corporation

FAQ

What is the dividend amount for SCM in Q2 2020?

The dividend amount for SCM in Q2 2020 is $0.25 per share.

When is the ex-dividend date for SCM's Q2 2020 dividend?

The ex-dividend date for SCM's Q2 2020 dividend is July 14, 2020.

What is the payment date for the SCM Q2 2020 dividend?

The payment date for the SCM Q2 2020 dividend is July 31, 2020.

When will SCM announce its Q3 2020 dividend?

SCM expects to declare its Q3 2020 dividend by September 30, 2020.