BETHESDA, Md., March 17, 2014 /PRNewswire/ -- American Capital Senior Floating, Ltd. ("ACSF" or the "Company") (Nasdaq: ACSF) announced today that its Board of Directors has declared a cash dividend of $0.18 per share for the "stub" period, from the closing of the Company's initial public offering ("IPO") on January 22, 2014 through March 31, 2014. The first quarter 2014 dividend is payable on April 10, 2014 to common stockholders of record as of March 31, 2014, with an ex-dividend date of March 27, 2014.
"We are pleased to announce ACSF's inaugural dividend of $0.18 per share," said Mark Pelletier, President and Chief Investment Officer. "On January 22, 2014, ACSF raised approximately $150 million in gross proceeds from its IPO. With proceeds from borrowings under the Company's credit facility, the cost basis of ACSF's IPO investment portfolio of first and second lien floating rate loans and collateralized loan obligations has grown from $198 million to $279 million as of March 14, 2014. With the successful deployment of our capital, we expect that this will be the first of many attractive dividends for our stockholders in the years to come."
ABOUT AMERICAN CAPITAL SENIOR FLOATING American Capital Senior Floating, Ltd. is a non-diversified closed-end investment management company that invests primarily in first lien and second lien floating rate loans to large market, U.S. based companies ("Leveraged Loans") and opportunistically in debt and equity tranches of collateralized loan obligations collateralized by Leveraged Loans. The Company has elected to be treated as business development company under the Investment Company Act of 1940, as amended. The Company is externally managed by American Capital ACSF Management, LLC, an indirect subsidiary of American Capital Asset Management, LLC, a wholly-owned portfolio company of American Capital, Ltd. For further information, please refer to www.ACSF.com.
ABOUT AMERICAN CAPITAL American Capital, Ltd. (Nasdaq: ACAS) is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate, energy & infrastructure and structured products. American Capital manages $19 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $93 billion of total assets under management (including levered assets). Through an affiliate, American Capital manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC) with approximately $9 billion of net book value, American Capital Mortgage Investment Corp. (Nasdaq: MTGE) with approximately $1 billion of net book value and American Capital Senior Floating, Ltd. (Nasdaq: ACSF). From its eight offices in the U.S. and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $750 million. For further information, please refer to www.AmericanCapital.com.
This press release contains forward-looking information and statements. Forward-looking statements give our current expectations and projections relating to the Company's financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "confident," "may," "should," "can have," "likely," "future" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Forward looking statements are not guarantees of performance or results, and involve known and unknown risks, uncertainties (some of which are beyond the Company's control), assumptions and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Should one or more of these risks or uncertainties materialize, the Company's actual results may vary in material respects from those projected in any forward-looking statements. A detailed discussion of these and other factors that may affect future results is contained in our filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made by the Company in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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SOURCE American Capital, Ltd.