Chicago Atlantic BDC, Inc. Declares $0.34 Cash Dividend for Fourth Quarter 2024
Rhea-AI Summary
Chicago Atlantic BDC (NASDAQ: LIEN) has declared a cash dividend of $0.34 per share for Q4 2024, representing a 36% increase from the previous quarter's dividend of $0.25 per share. The dividend will be recorded on December 19, 2024, with payment scheduled for December 27, 2024.
The company maintains a dividend reinvestment plan (DRIP) that automatically reinvests dividends into additional common stock unless stockholders specifically opt out. Stockholders holding shares through brokers need to contact their financial intermediaries to receive cash dividends instead of stock reinvestment.
Positive
- 36% increase in quarterly dividend from $0.25 to $0.34 per share
- Implementation of DRIP offering shareholders flexible dividend reinvestment options
Negative
- None.
News Market Reaction
On the day this news was published, LIEN declined 1.53%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic BDC, Inc. (“the “Company”) (NASDAQ: LIEN), a specialty finance company that has elected to be regulated as a business development company, today announced that the Company’s board of directors has declared a cash dividend of
The following are the key dates for the dividend:
| Record Date | December 19, 2024 |
| Payment Date | December 27, 2024 |
The Company has adopted a dividend reinvestment plan (“DRIP”) that provides for reinvestment of dividends on behalf of its stockholders, unless a stockholder elects to receive cash. As a result, when the Company declares a cash dividend, stockholders who have not “opted out” of the DRIP in accordance with the terms of the DRIP and the procedures of their broker or other financial intermediary will have their cash dividends automatically reinvested in additional shares of the Company’s common stock. A stockholder whose shares are held by a broker or other financial intermediary should contact their broker or other financial intermediary as soon as possible in order to determine the time by which the stockholder must take action in order to receive dividends in cash.
About Chicago Atlantic BDC, Inc.
The Company is a specialty finance company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, and has elected to be treated as a regulated investment company for U.S. federal income tax purposes. The Company’s investment objective is to maximize risk-adjusted returns on equity for its stockholders by investing primarily in direct loans to privately held middle-market companies, with a primary focus on cannabis companies. The Company is managed by Chicago Atlantic BDC Advisers, LLC, an investment manager focused on the cannabis and other niche or underfollowed sectors. For more information, please visit lien.chicagoatlantic.com.
Forward-Looking Statements
Certain information contained herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about the Company, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Company’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in the Company’s filings with the Securities and Exchange Commission. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which the Company makes them. The Company does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
Contact:
Tripp Sullivan
SCR Partners, LLC
LIEN@chicagoatlantic.com
FAQ
What is Chicago Atlantic BDC's Q4 2024 dividend amount?
When is the dividend payment date for Chicago Atlantic BDC's Q4 2024 dividend?
How much did Chicago Atlantic BDC increase its dividend in Q4 2024?
What is Chicago Atlantic BDC's DRIP policy?
