Business
Capital Southwest Announces Increase in Quarterly Regular Dividend to $0.47 per Share and a Supplemental Dividend of $0.50 per Share for the Quarter Ended December 31, 2021
DALLAS, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest,” the “Company” or “we”) (Nasdaq: CSWC), an internally managed
About this update from Capital Southwest Corporation
[{"type":"text","content":"DALLAS, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest,” the “Company” or “we”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced its Board of Directors (the “Board”) has increased the quarterly regular dividend to $0.47 per share for the quarter ended December 31, 2021. In addition, the Board has decided to accelerate expected future payments under the supplemental dividend program and declared a final supplemental dividend of $0.50 per share. Bowen Diehl, President and Chief Executive Officer commented, “We are pleased to announce today that our Board has declared a $0.47 regular dividend for the quarter ended December 31, 2021, an increase of 6.8% compared to the $0.44 regular dividend already declared for the quarter ended September 30, 2021. Our recent successful capital markets activities, combined with strong credit portfolio growth and performance, give us confidence that we can continue to steadily grow our regular dividend going forward. In addition, we believe the accelerated distribution of $0.50 per share from our undistributed taxable income (“UTI”) maximizes value for our shareholders, while still maintaining an adequate UTI balance going forward. We have significantly strengthened our balance sheet capitalization since we established the supplemental dividend program in June 2018, and thus feel confident in our ability to accelerate the supplemental dividend payment at this time. Going forward, shareholders will continue to participate in the successful exits of our investment portfolio through special distributions as we monetize the unrealized appreciation in our portfolio.” The Company’s dividends will be payable as follows: Regular Quarterly Dividend Amount Per Share:$0.47Ex-Dividend Date:December 14, 2021Record Date:December 15, 2021Payment Date:December 31, 2021 Final Supplemental Dividend Amount Per Share:$0.50Ex-Dividend Date:December 14, 2021Record Date:December 15, 2021Payment Date:December 31, 2021 The Board has not yet declared any dividends for subsequent quarters and would only do so, in its sole discretion, to the extent the Company has excess undistributed taxable income available. No assurances can be provided t...