Bethesda, MD - July 11, 2002 - American Capital Strategies Ltd. (Nasdaq:ACAS) today announced its Board of Directors has declared a third quarter 2002 dividend of $0.66 per share, payable on October 1, 2002 to record holders as of September 12, 2002. This dividend is an 18% increase over the third quarter 2001 regular dividend of $0.56 per share. American Capital has paid and declared $9.64 in dividends since its August 1997 IPO.
"Our ability to continue raising our dividend reflects American Capital's strong cash flow, record backlog and growing market share," said Chairman, President and CEO Malon Wilkus. "Since going public, American Capital has paid dividends of at least 98% of our net operating income. We can provide no better evidence of our financial performance than to grow and pay out this level of cash dividends."
From its August 1997 IPO through the first quarter of 2002, American Capital has raised debt and equity totaling $1.026 billion and invested $1.143 billion in portfolio companies. In the same period, American Capital has collected $307 million in cash from our investments and paid cash dividends totaling $190 million.
| August 1997 IPO through Q1 2002 - in Millions |
|
Debt & Equity
Raised |
Total Portfolio
Investments |
Cash
Collections |
Total Cash
Dividends |
|
| $1,026 |
$1,143 |
$307 |
$190 |
|
|
A summary of American Capital's dividend history follows. Click here for further dividend history. American Capital offers a Dividend Reinvestment Plan (DRIP). For more information regarding this Plan, click here or call its Shareholder Relations Department at (301) 841-1359.
AMERICAN CAPITAL'S DIVIDEND HISTORY
$9.64 Paid and Declared Since August 1997 IPO |
|
| Year/Quarter |
Dividend
Amount |
%Change Over
Prior Year Quarter,
Prior Year Total |
Extra
Dividend |
Total |
| 2002 |
| Q3 |
$0.66 |
18% |
|
| Q2 |
$0.63 |
15% |
|
| Q1 |
$0.59 |
11% |
|
|
| 2001 |
$2.21 |
13% |
$0.09 |
$2.30 |
| Q4 |
$0.57 |
10% |
|
| Q3 |
$0.56 |
14% |
|
| Q2 |
$0.55 |
12% |
|
| Q1 |
$0.53 |
18% |
|
|
| 2000 |
$1.95 |
14% |
$0.22 |
$2.17 |
| Q4 |
$0.52 |
18% |
|
| Q3 |
$0.49 |
14% |
|
| Q2 |
$0.49 |
14% |
|
| Q1 |
$0.45 |
10% |
|
|
| 1999 |
$1.71 |
39% |
$0.03 |
$1.74 |
| Q4 |
$0.44 |
19% |
|
| Q3 |
$0.43 |
34% |
|
| Q2 |
$0.43 |
48% |
|
| Q1 |
$0.41 |
64% |
|
|
| 1998 |
$1.23 |
N/A |
$0.11 |
$1.34 |
| Q4 |
$0.37 |
76% |
|
| Q3 |
$0.32 |
N/A |
|
| Q2 |
$0.29 |
N/A |
|
| Q1 |
$0.25 |
N/A |
|
|
| 1997 Q4 |
$0.21 |
|
$0.21 |
|
| TOTAL |
|
$9.64 |
|
American Capital provides the estimated tax characteristics of its dividend on a quarterly basis and those estimates are subject to recharacterization. The current dividend of $0.66 per share is estimated to be a distribution of ordinary income. The actual tax characteristics will be reported to each shareholder on a Form 1099.
American Capital is a publicly traded buyout and mezzanine fund. 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.
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.
