StoneCastle Financial Corp. Announces Special Distribution of $0.14 and Regular Cash Distribution of $0.38 per Share for Fourth Quarter 2018
NEW YORK, Dec. 07, 2018 (GLOBE NEWSWIRE) -- StoneCastle Financial Corp. (Nasdaq: BANX) (“StoneCastle Financial” or the “Company”), an SEC registered closed-end management investment company, today announced that its Board of Directors has declared a special cash distribution of $0.14 per share and a regular cash distribution of $0.38 per share for the fourth quarter of 2018. The total distribution of $0.52 will be payable on January 2, 2019 to shareholders of record on December 24, 2018.
“This special distribution reflects the Company’s successful investment strategy and our ability to generate income in excess of our regular quarterly dividend during 2018. StoneCastle Financial remains a unique investment company in the community banking industry and we remain committed to creating long-term value for our shareholders,” said Joshua Siegel, Chairman & CEO.
A portion of the Company’s distributions may include sources other than net investment income, including a return of capital. Investors should understand that a return of capital is not a distribution from income or gains of a Company. As required under the Investment Company Act of 1940, as amended, a notice with the estimated components of the distribution will be sent to shareholders at the time of payment if it does not consist solely of net investment income. The notice should not be used to prepare tax returns as the estimates indicated in the notice may differ from the ultimate federal income tax characterization of distributions. After the end of each calendar year, investors will be sent a Form 1099-DIV informing them how to report distributions received during that year for federal income tax purposes.
About StoneCastle Financial
StoneCastle Financial is an SEC registered non-diversified, closed-end investment company listed on the NASDAQ Global Select Market under the symbol “BANX.” StoneCastle Financial intends to make long-term, passive, non-control investments in community banks seeking capital for organic growth, acquisitions, share repurchases and other refinancing activities. Its investment objective is to provide stockholders with current income and, to a lesser extent, capital appreciation. StoneCastle Financial is managed by StoneCastle Asset Management LLC. To learn more, visit www.stonecastle-financial.com.
This press release contains statements that are not historical facts and are forward-looking statements based on current management expectations involving substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Actual future results may differ significantly from those stated in any forward-looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of shares of common stock, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in StoneCastle Financial’s filings with the SEC.
CONTACT: Investor Contact:Julie Muraco 347-887-0324Source: StoneCastle Financial Corp.