ANNAPOLIS, Md., June 1, 2017 /PRNewswire/ -- Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong," or the "Company") (NYSE: HASI), a leading investor in sustainable infrastructure markets, including energy efficiency and renewable energy, announced today its quarterly dividend and the appointment of Daniel K. McMahon, Executive Vice President, to head Portfolio Management.
The Board of Directors declared a quarterly cash dividend of $0.33 per share of common stock payable on July 13, 2017, to stockholders of record on July 6, 2017. Based upon the Company's common stock closing price of $21.91 per share on May 31, 2017, the dividend represents an annualized yield of 6.0%.
Appointment of Executive Vice President – Portfolio Management
The Company also announced that Daniel K. McMahon will head the Company's Portfolio Management team as well as serve as a full-time member of the Company's Investment Committee.
"Having served in both origination and structuring, and on the investment committee, Dan will be able to bring an executive focus to managing our diversified $1.9 billion Portfolio of over 155 transactions," said Chairman, President & CEO Jeffrey Eckel. "His knowledge of our assets and our customers will allow us to identify opportunities to add value to our customers and our Portfolio."
In conjunction with this change, Nathaniel J. Rose will have responsibility for origination and structure activities with the title Executive Vice President and Chief Investment Officer. The Investment Committee will consist of Jeffrey Eckel, our Chairman, President & CEO, Brendan Herron, our CFO, and Dan McMahon.
Mr. McMahon, CFA, 45, has been with the Company and its Predecessor since 2000 in a variety of roles, and has served us as an executive vice president since 2015. He has played a role in analyzing, negotiating and structuring several billion dollars of transactions. Mr. McMahon previously worked with T. Rowe Price from 1997 to 2000. Mr. McMahon received his Bachelor of Arts degree from the University of California, San Diego in 1993, and is a CFA charter holder. He holds Series 24, 63 and 79 securities licenses.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) invests in sustainable infrastructure markets, including energy efficiency and renewable energy. The Company focuses on providing preferred or senior level capital to established sponsors and high credit quality obligors for assets that generate long-term, recurring and predictable cash flows. The Company is based in Annapolis, MD.
Forward Looking Statements
Some of the information in this press release contains forward-looking statements and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, words such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may," "target," or similar expressions, are intended to identify such forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption "Risk Factors" included in our Annual Report on Form 10-K for our fiscal year ended December 31, 2016, which was filed with the U.S. Securities and Exchange Commission ("SEC"), as well as in other reports that we file with the SEC.
Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. We disclaim any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.
Contact: Investor/Media Relations
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SOURCE Hannon Armstrong Sustainable Infrastructure Capital, Inc.