Newtek Business Services Corp. Expects to Pay Annual Cash Dividend of Approximately $1.80 per Share for 2015

NEW YORK, Dec. 29, 2014 /PRNewswire/ -- Newtek Business Services Corp., (NASDAQ: NEWT), a business development company ("BDC"), today announced that it currently expects to pay an annual cash dividend⁽¹⁾ of approximately $1.80 per share for 2015, payable quarterly from anticipated taxable earnings, and is based on 10,206,323 shares of the Company's Common Stock outstanding as of December 22, 2014. The Company currently expects its dividend payable for the first quarter of 2015 will be $0.38 per share, which is expected to be declared on April 6, 2015 and payable on April 13, 2015 to shareholders of record on March 30, 2015. 

In accordance with the Company's conversion to a BDC on November 12, 2014, Newtek's board of directors expects to maintain a dividend policy with the objective of making quarterly distributions in an amount that approximates at least 90% of the Company's taxable income.  The timing and actual amount of such distribution, if any, remains subject to the sole discretion of our board of directors.

The dividend estimation herein is merely intended to give investors guidance and is not to be solely relied upon for investment purposes.  Because the guidance is based on the Company's current estimate of its 2015 quarterly taxable income and is unaudited at this time, there is no assurance that such results will be achieved or that the forecasted 2015 full year distribution, if made, will consist solely of taxable income. 

⁽¹⁾ The dividend will be paid in cash or shares of the Company's Common Stock through participation in the Company's dividend reinvestment program at the election of the shareholders. 

About Newtek Business Services Corp.

Newtek Business Services Corp., The Small Business Authority^®, is the Authority for the small- and medium-sized business (SMB) market providing a wide range of business services and financial products under the Newtek^® brand. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 business accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.

Newtek's products and services include: The Newtek Advantage^™, Electronic Payment Processing, The Secure Gateway, Managed Technology Solutions (Cloud Computing), eCommerce, Business Lending, Insurance Services, Web Services, Data Backup, Storage and Retrieval, Accounts Receivable Financing and Payroll.

The Small Business Authority^® is a registered trade mark of Newtek Business Services Corp., and neither are a part of or endorsed by the U.S. Small Business Administration.

Note Regarding Forward Looking Statements

Statements in this press release including statements regarding Newtek's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements." All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the Securities and Exchange Commission and available through http://www.sec.gov.

For more information, please visit the following websites:
www.thesba.com

Contacts:

Newtek Business Services Corp.
Barry Sloane
Chairman and CEO
212-356-9500
[email protected]

Newtek Business Services Corp.
http://www.thesba.com
Investor Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / [email protected]
Contact: Brett Maas
Telephone: (646) 536-7331 / [email protected]
Public Relations
Contact: Simrita Singh
Telephone: (212) 356-9566 / [email protected]

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SOURCE Newtek Business Services Corp.

Related Links

http://thesba.com/