BOCA RATON, Fla., Nov. 17, 2022 (GLOBE NEWSWIRE) — Newtek Enterprise Companies Corp., (NASDAQ: NEWT), an internally managed enterprise improvement firm (“BDC”), in the present day introduced that its Board of Administrators declared a fourth quarter 2022 money distribution of $0.70 per share1, payable on December 30, 2022 to shareholders of document as of December 20, 2022.
1Be aware relating to Dividend Funds: The Firm’s Board of Administrators expects to keep up a dividend coverage with the target of distributing 90 – 100% of the Firm’s 2022 taxable revenue. This distribution features a spillover dividend of the Firm’s retained earnings. The willpower of the tax attributes of the Firm’s distributions is made yearly as of the tip of the Firm’s fiscal yr primarily based upon its taxable revenue for the total yr and distributions paid for the total yr.
Newtek Enterprise Companies Corp., Your Enterprise Options Firm®, is an internally managed BDC, which together with its managed portfolio firms, offers a variety of enterprise and monetary options underneath the Newtek® model to the small- and medium-sized enterprise (“SMB”) market. Since 1999, Newtek has offered state-of-the-art, cost-efficient services and products and environment friendly enterprise methods to SMB relationships throughout all 50 states to assist them develop their gross sales, management their bills and cut back their danger.
Newtek’s and its portfolio firms’ services and products embody: Enterprise Lending, SBA Lending Options, Digital Cost Processing, Know-how Options (Cloud Computing, Knowledge Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Stock Financing, Insurance coverage Options, Net Companies, and Payroll and Advantages Options.
Newtek® and Your Enterprise Options Firm® are registered logos of Newtek Enterprise Companies Corp.
Be aware Concerning Ahead Wanting Statements
This press launch accommodates sure forward-looking statements. Phrases similar to “believes,” “intends,” “expects,” “initiatives,” “anticipates,” “forecasts,” “aim” and “future” or comparable expressions are supposed to establish forward-looking statements. All forward-looking statements contain plenty of dangers and uncertainties that would trigger precise outcomes to vary materially from the plans, intentions and expectations mirrored in or urged by the forward-looking statements. Such dangers and uncertainties embody, amongst others, embody our skill to shut the pending acquisition of the Nationwide Financial institution of New York Metropolis (the “Transaction”), get hold of required regulatory approvals for the pending Transaction, the timing of the closing of the Transaction, the timing of the Firm’s discontinuance from regulation as a BDC underneath the 1940 Act, projections regarding or contemplating the pending Transaction, the timing of our skill to originate new investments, obtain sure margins and ranges of profitability, the supply of further capital and the power to keep up sure debt to asset ratios, intensified competitors, working issues and their influence on revenues and revenue margins, anticipated future enterprise methods and monetary efficiency, anticipated future variety of clients, enterprise prospects, legislative developments and comparable issues. Threat components, cautionary statements and different situations, which might trigger Newtek’s precise outcomes to vary from administration’s present expectations, are contained in Newtek’s filings with the Securities and Change Fee and out there via http://www.sec.gov/. Newtek cautions you that forward-looking statements aren’t ensures of future efficiency and that precise outcomes or developments might differ materially from these projected or implied in these statements.
SOURCE: Newtek Enterprise Companies Corp.
Investor Relations & Public Relations
Contact: Jayne Cavuoto
Phone: (212) 273-8179 / [email protected]