Newtek Business Services Corp. Declares Fourth Quarter 2021 Dividend of $1.05 per Share
October 20 2021 - 08:30AM
GlobeNewswire Inc.
Newtek Business Services Corp., (NASDAQ: NEWT), an internally
managed business development company (“BDC”), today announced that
its Board of Directors declared a fourth quarter 2021 cash dividend
of $1.051 per share. The fourth quarter 2021 dividend is payable on
December 30, 2021 to shareholders of record as of December 20,
2021. The payment of the fourth quarter 2021 dividend would
represent a 123.4% increase over the fourth quarter 2020 dividend
of $0.47 per share. With the payment of the fourth quarter 2021
dividend, the Company will have paid $3.15 per share in dividends
in 2021, in line with the Company’s previously stated 2021 dividend
forecast, which would represent a 53.7% increase over dividends
paid in 2020.
Note regarding Dividend Payments: The Company's
Board of Directors expects to maintain a dividend policy with the
objective of making quarterly distributions in an amount that
approximates 90 - 100% of the Company's annual taxable income. The
determination of the tax attributes of the Company's distributions
is made annually as of the end of the Company's fiscal year based
upon its taxable income for the full year and distributions paid
for the full year.
1Amount and timing of dividends, if any, remain subject to the
discretion of the Company’s Board of Directors. Newtek Business
Services Corp., Your Business Solutions Company®, is an internally
managed BDC, which along with its controlled portfolio companies,
provides a wide range of business and financial solutions under the
Newtek® brand to the small- and medium-sized business (“SMB”)
market. Since 1999, Newtek has provided state-of-the-art,
cost-efficient products and services and efficient business
strategies to SMB relationships across all 50 states to help them
grow their sales, control their expenses and reduce their risk.
Newtek’s and its portfolio companies’ products and services
include: Business Lending, SBA Lending Solutions, Electronic
Payment Processing, Technology Solutions (Cloud Computing, Data
Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts
Receivable Financing & Inventory Financing, Insurance
Solutions, Web Services, and Payroll and Benefits Solutions.
Newtek® and Your Business Solutions Company®,
are registered trademarks of Newtek Business Services Corp.
Note Regarding Forward Looking
Statements
This press release contains certain
forward-looking statements. Words such as “believes,” “intends,”
“expects,” “projects,” “anticipates,” “forecasts,” “goal” and
“future” or similar expressions are intended to identify
forward-looking statements. All forward-looking statements involve
a number of risks and uncertainties that could cause actual results
to differ materially from the plans, intentions and expectations
reflected in or suggested by the forward-looking statements. Such
risks and uncertainties include, among others, intensified
competition, operating problems and their impact on revenues and
profit margins, anticipated future business strategies and
financial performance, anticipated future number of customers,
business prospects, legislative developments and similar matters.
Risk factors, cautionary statements and other conditions, which
could cause Newtek’s actual results to differ from management’s
current expectations, are contained in Newtek’s filings with the
Securities and Exchange Commission and available through
http://www.sec.gov/. Newtek cautions you that
forward-looking statements are not guarantees of future performance
and that actual results or developments may differ materially from
those projected or implied in these statements.
SOURCE: Newtek Business Services Corp.
Investor Relations & Public
RelationsContact: Jayne Cavuoto Telephone: (212) 273-8179
/ jcavuoto@newtekone.com
Newtek Business Services (NASDAQ:NEWT)
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