Runway Growth Finance Corp. Announces Fourth Quarter Dividend of $0.36
Runway Growth Finance Corp. (RWAY) announced a fourth quarter 2022 cash dividend of $0.36 per share, marking a 9% increase from the previous quarter and the fourth consecutive quarterly increase since its public listing.
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Rhea-AI Summary
Runway Growth Finance Corp. (RWAY) announced a fourth quarter 2022 cash dividend of $0.36 per share, marking a 9% increase from the previous quarter and the fourth consecutive quarterly increase since its public listing. Key dates include October 27 for declaration, November 8 as the record date, and November 22 for payment. The company plans to distribute substantially all available earnings quarterly, with an optional dividend reinvestment plan for shareholders.
Positive
- Fourth consecutive quarter of dividend increases.
- 9% increase in cash dividend compared to the previous quarter.
- Company maintains a dividend reinvestment plan to benefit shareholders.
Negative
- None.
Details
News Market Reaction – RWAY
The recorded move for RWAY in the trading session of this news was +8.33%.
Data tracked by StockTitan Argus. Session date unavailable.
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WOODSIDE, Calif., Oct. 28, 2022 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth”), 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 2022 cash distribution of
The following shows the key dates of the fourth quarter 2022 dividend:
Declaration Date: October 27, 2022
Record Date: November 8, 2022
Payment Date: November 22, 2022
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, Chief Financial Officer and Chief Operating Officer, tr@runwaygrowth.com
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