Runway Growth Finance Corp. Announces Third Quarter Regular Dividend of $0.40 and $0.05 Supplemental Distribution
Rhea-AI Summary
Runway Growth Finance Corp. (Nasdaq: RWAY) has announced its third quarter 2024 dividend distributions. The Board of Directors declared a regular cash distribution of $0.40 per share and an additional supplemental dividend of $0.05 per share. Key dates for the dividend are:
- Declaration Date: July 30, 2024
- Record Date: August 12, 2024
- Payment Date: August 26, 2024
The company aims to distribute substantially all available earnings quarterly, subject to Board discretion and various factors. Runway Growth maintains an "opt out" dividend reinvestment plan for stockholders, automatically reinvesting cash dividends in additional common stock for those who haven't opted out.
Positive
- Declared regular dividend of $0.40 per share for Q3 2024
- Additional supplemental dividend of $0.05 per share for Q3 2024
- Commitment to distribute substantially all available earnings quarterly
- Dividend reinvestment plan in place for stockholders
Negative
- None.
News Market Reaction – RWAY
In the trading session that priced this news, RWAY gained 0.25%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MENLO PARK, Calif., July 31, 2024 (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 third quarter 2024 regular cash distribution of
The following shows the key dates of the third quarter 2024 dividend, including the supplemental dividend:
Declaration Date: July 30, 2024
Record Date: August 12, 2024
Payment Date: August 26, 2024
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. Any distribution by the Company will depend on the Company's earnings, financial condition, maintenance of regulated investment company status for income tax purposes, compliance with applicable business development company regulations and such other factors as the Board of Directors may deem relevant from time to time. 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, which change over time. 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
