Runway Growth Finance Corp. Announces Fourth Quarter Dividend of $0.40 with $0.06 Supplemental Distribution

Rhea-AI Summary

Runway Growth Finance Corp. (Nasdaq: RWAY) has declared a fourth quarter 2023 cash distribution of $0.40 per share and a supplemental dividend of $0.06 per share. The key dates for the dividend are: Declaration Date: November 2, 2023, Record Date: November 13, 2023, Payment Date: November 28, 2023. The Company intends to distribute most of its available earnings on a quarterly basis, subject to the Board of Directors' discretion. Stockholders can opt out of the dividend reinvestment plan.

Positive

• Runway Growth Finance Corp. has declared a cash distribution of $0.40 per share for the fourth quarter of 2023.
• The Company has also declared a supplemental dividend of $0.06 per share for the fourth quarter of 2023.
• The key dates for the dividend are: Declaration Date - November 2, 2023, Record Date - November 13, 2023, Payment Date - November 28, 2023.
• Runway Growth generally intends to distribute most of its available earnings on a quarterly basis.
• Stockholders can opt out of the dividend reinvestment plan.

Negative

• None.

MENLO PARK, Calif., Nov. 03, 2023 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth” or the “Company”), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today announced that its Board of Directors has declared a fourth quarter 2023 cash distribution of $0.40 per share. In addition, the Board of Directors declared a supplemental dividend of $0.06 per share, for the fourth quarter of 2023.

The following shows the key dates of the fourth quarter 2023 dividend, including the supplemental dividend:

Declaration Date: November 2, 2023
Record Date: November 13, 2023
Payment Date: November 28, 2023

Runway Growth generally intends to distribute, out of assets legally available for distribution, substantially all of its available earnings, on a quarterly basis, subject to the discretion of the Board of Directors. The Company also maintains an “opt out” dividend reinvestment plan, as amended, for its stockholders. As a result, if the Company declares a distribution, then stockholders who have not opted out of the dividend reinvestment plan will have their cash dividends automatically reinvested in additional shares of the Company’s common stock.

About Runway Growth Finance Corp.
Runway Growth is a growing specialty finance company focused on providing flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity. Runway Growth is a closed-end investment fund that has elected to be regulated as a business development company under the Investment Company Act of 1940. Runway Growth is externally managed by Runway Growth Capital LLC, an established registered investment advisor that was formed in 2015 and led by industry veteran David Spreng. For more information, please visit www.runwaygrowth.com

Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties, including the impact of COVID-19 and related changes in base interest rates and significant market volatility on our business, our portfolio companies, our industry and the global economy. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway Growth’s filings with the Securities and Exchange Commission. Runway Growth 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.

IR Contacts:
Stefan Norbom, Prosek Partners, snorbom@prosek.com
Thomas B. Raterman, Acting President, Chief Financial Officer and Chief Operating Officer, tr@runwaygrowth.com

What is the cash distribution declared by Runway Growth Finance Corp. for the fourth quarter of 2023?

Runway Growth Finance Corp. has declared a cash distribution of $0.40 per share for the fourth quarter of 2023.

Is there a supplemental dividend declared by Runway Growth Finance Corp. for the fourth quarter of 2023?

Yes, the Company has declared a supplemental dividend of $0.06 per share for the fourth quarter of 2023.

What are the key dates for the fourth quarter 2023 dividend declared by Runway Growth Finance Corp.?

The key dates for the dividend are: Declaration Date - November 2, 2023, Record Date - November 13, 2023, Payment Date - November 28, 2023.

What is the dividend distribution policy of Runway Growth Finance Corp.?

Runway Growth generally intends to distribute most of its available earnings on a quarterly basis, subject to the discretion of the Board of Directors.

Can stockholders opt out of the dividend reinvestment plan of Runway Growth Finance Corp.?

Yes, stockholders can opt out of the dividend reinvestment plan.