Bethesda, MD - November 29, 2001 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that its Board of Directors has declared an extra dividend on its common stock of $.09 per share payable on January 11, 2002 to shareholders of record as of December 31, 2001. Total regular dividends for 2001 are $2.21 per share, an increase of 13.3% over 2000. Total dividends paid and declared for 2001 is $2.30. American Capital has declared a total of $7.76 in dividends since its August 1997 IPO.
As a regulated investment company, American Capital is required to annually declare a dividend to distribute 98% of its investment company taxable income by December 31st to avoid paying an excise tax. The Company estimates that the extra dividend of $0.09 per share is sufficient to prevent the Company from paying an excise tax for 2001.
American Capital has declared four quarterly dividends in 2001 as set forth below in comparison to previous years.
|
2001 |
Annual
%
Change |
2000 |
Annual
%
Change |
1999 |
Annual
%
Change |
1998 |
Annual
%
Change |
1997 |
| 1st Quarter |
$0.53 |
|
$0.45 |
|
$0.41 |
|
$0.25 |
|
N/A |
| 2nd Quarter |
$0.55 |
|
$0.49 |
|
$0.43 |
|
$0.29 |
|
N/A |
| 3rd Quarter |
$0.56 |
|
$0.49 |
|
$0.43 |
|
$0.32 |
|
N/A |
| 4th Quarter |
$0.57 |
|
$0.52 |
|
$0.44 |
|
$0.37 |
|
$0.21 |
Total
Regular
Dividends |
$2.21 |
13.3% |
$1.95 |
14.0% |
$1.71 |
39.0% |
$1.23 |
N/A |
$0.21 |
| Extra |
$0.09 |
|
$0.22 |
|
$0.03 |
|
$0.11 |
|
| Total |
$2.30 |
6.0% |
$2.17 |
24.7% |
$1.74 |
29.9% |
$1.34 |
N/A |
$0.21 |
|
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American Capital is a publicly traded buyout and mezzanine fund with capital resources exceeding $1 billion. American Capital is an equity partner in management and employee buyouts; invests in debt and equity of companies led by private equity firms, and provides capital directly to private and small public companies. American Capital funds growth, acquisitions and recapitalizations.
Companies interested in learning more about American Capital's flexible financing and ability to provide senior debt, subordinated debt and equity should contact Mark Opel, Principal, at (800) 248-9340, or visit our website.This press release contains forward-looking statements. The statements regarding expected results of American Capital Strategies are subject to various factors and uncertainties, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, changes in regional or national economic conditions, or changes in the conditions of the industries in which American Capital has made investments.
