BOCA RATON, Fla., Nov. 11, 2020 (GLOBE NEWSWIRE) — Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed enterprise growth firm (“BDC”), as we speak introduced that its Board of Administrators declared a fourth quarter 2020 money dividend of $0.471 per share. The fourth quarter 2020 dividend is payable on December 30, 2020 to shareholders of file as of December 18, 2020. With the cost of the fourth quarter 2020 dividend, the Firm may have paid $2.05 per share in 2020.
Word concerning Dividend Funds: The Firm’s Board of Administrators expects to take care of a dividend coverage with the target of creating quarterly distributions in an quantity that approximates 90 – 100% of the Firm’s annual taxable earnings. The dedication of the tax attributes of the Firm’s distributions is made yearly as of the top of the Firm’s fiscal yr based mostly upon its taxable earnings for the total yr and distributions paid for the total yr.
1Quantity and timing of dividends, if any, stay topic to the discretion of the Firm’s Board of Administrators. Newtek Business Services Corp., Your Enterprise Options Firm®, is an internally managed BDC, which together with its managed portfolio corporations, gives a variety of enterprise and monetary options beneath the Newtek® model to the small- and medium-sized enterprise (“SMB”) market. Since 1999, Newtek has supplied 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 threat.
Newtek’s and its portfolio corporations’ services and products embrace: 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.
Word Concerning Ahead Trying Statements
This press launch accommodates sure forward-looking statements. Phrases reminiscent of “believes,” “intends,” “expects,” “initiatives,” “anticipates,” “forecasts,” “objective” and “future” or comparable expressions are meant to determine 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 steered by the forward-looking statements. Such dangers and uncertainties embrace, amongst others, intensified competitors, working issues and their affect 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 circumstances, 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 obtainable by means of http://www.sec.gov/. Newtek cautions you that forward-looking statements aren’t ensures of future efficiency and that precise outcomes or developments could differ materially from these projected or implied in these statements.
SOURCE: Newtek Enterprise Providers Corp.
Investor Relations & Public Relations
Contact: Jayne Cavuoto
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