HOUSTON, Jan. 19, 2021 /PRNewswire/ -- Stellus Capital Investment Corporation (the "Company") (NYSE: SCM) announced today that it will change its dividend payment schedule from quarterly to monthly beginning with the month ended January 31, 2021. Additionally, the Company announced that its Board of Directors has declared a monthly dividend of $0.0833 per share for each of the months of January, February and March which, in the aggregate, is $0.25 per share for the first quarter.
"I am pleased to announce that we are changing the frequency of our dividend payments from quarterly to monthly. This decision is based on the Company's strong liquidity, stable asset quality and belief that the impact of the COVID-19 pandemic is materially behind it," said Robert T. Ladd, Chief Executive Officer of Stellus Capital Investment Corporation.
Summary of First Quarter 2021 Regular Monthly Dividends
Amount per Share
About Stellus Capital Investment Corporation
The Company is an externally-managed, closed-end, non-diversified investment management company that has elected to be regulated as a business development company under the Investment Company Act of 1940. The Company's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation by investing primarily in private middle-market companies (typically those with $5.0 million to $50.0 million of EBITDA (earnings before interest, taxes, depreciation and amortization)) through first lien, second lien, unitranche and mezzanine debt financing, and corresponding equity investments. The Company's investment activities are managed by its investment adviser, Stellus Capital Management. To learn more about Stellus Capital Investment Corporation, visit www.stelluscapital.com under the "Public Investors" link.
Statements included herein may contain "forward-looking statements" which relate to future performance or financial condition. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission including the final prospectus that will be filed with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Stellus Capital Investment Corporation
W. Todd Huskinson, (713) 292-5414
Chief Financial Officer
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SOURCE Stellus Capital Investment Corporation