Hannon Armstrong Announces $0.26 per Share Quarterly Dividend for an Annualized 5.2% Dividend Yield and Executive Promotions
ANNAPOLIS, Md., June 16, 2015 /PRNewswire/ -- Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong," "we", "our" or the "Company;") (NYSE: HASI), a leading provider of debt and equity financing to the energy efficiency and renewable energy markets, today announced that its Board of Directors declared a quarterly cash dividend of $0.26 per share of common stock, payable on July 9, 2015, to stockholders of record on June 30, 2015. Based upon the Company's common stock closing price of $19.88 per share on June 15, 2015, the dividend represents an annualized yield of 5.2%.
Additionally, effective June 16, 2015, Nate Rose, has been promoted to Executive Vice President and Chief Operating Officer and Dan McMahon has been promoted to an Executive Vice President focused on our governmental and public sector clients. Both Mr. Rose and Mr. McMahon previously served as Senior Vice Presidents and have been with the Company since 2000. "Dan and Nate have done a great job in helping to build this business," said CEO Jeffrey Eckel. "These promotions reflect the additional responsibilities they have taken to further our growth plans." With Mr. Rose's new operating responsibilities including sponsoring transactions, he will no longer serve on the investment committee that will continue to be comprised of the CEO, Mr. Eckel, and the CFO, Mr. Herron, and will also include depending on the transaction, either our Executive Vice President, Mr. M. Rhem Wooten (for governmental and public sector investments) or Mr. McMahon (for commercial investments.)
Mr. Rose, 37, has been with the Company's predecessor since 2000, in a variety of roles, most recently as a senior vice president since 2007. Mr. Rose will assume more responsibility for the overall business processes as well as continuing to be involved in structuring and analyzing the Company's transactions. He has been involved with a vast majority of the Company's transactions since 2000. He earned a joint Bachelor of Science and Bachelor of Arts degree from the University of Richmond in 2000, a Master of Business Administration degree from the Darden School of Business Administration at the University of Virginia in 2009, is a CFA charterholder and has passed the CPA examination. He holds a Series 79 securities license.
Mr. McMahon, 43, has been with the Company's predecessor since 2000 in a variety of roles, most recently as a senior vice president since 2007. Mr. McMahon responsibilities will include an expanded executive role in originating and executing transactions with the Company's government customers. 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 charterholder. He holds Series 24, 63 and 79 securities licenses.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) provides debt and equity financing to the energy efficiency and renewable energy markets. We focus 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. We are based in Annapolis, Maryland, and we elected and qualified to be taxed as a real estate investment trust (REIT) for federal income-tax purposes, beginning with our taxable year ended December 31, 2013.
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, 2014, 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.
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SOURCE Hannon Armstrong Sustainable Infrastructure Capital, Inc.
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