Business
Newtek Business Services Corp. Declares Fourth Quarter 2021 Dividend of $1.05 per Share
Represents a 123.4% Increase over the Fourth Quarter 2020 Dividend BOCA RATON, Fla., Oct. 20, 2021 (GLOBE NEWSWIRE) -- Newtek Business Services Corp.,
About this update from Newtekone, Inc.
[{"type":"text","content":"Represents a 123.4% Increase over the Fourth Quarter 2020 Dividend\nBOCA RATON, Fla., Oct. 20, 2021 (GLOBE NEWSWIRE) -- 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 regis...