Bethesda, MD - October 7, 2002 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today its Board of Directors has declared a fourth quarter 2002 dividend of $0.67 per share, payable on December 31 to record holders as of December 12. This dividend is an 18% increase over the fourth quarter 2001 regular dividend of $0.57 per share. American Capital has paid and declared $10.31 in dividends since its August 1997 IPO.
"We are pleased to announce our fourth quarter 2002 dividend. American Capital's ability to grow and pay its dividend is the ultimate measure of our performance," said American Capital Chairman, President and CEO Malon Wilkus. "We remain confident in the strength of our business model and our investment portfolio."
"We would note that the decline in our stock price year-to-date correlates with the decline in the major market indices," said John Erickson, CFO of American Capital. "American Capital is also reiterating its 2002 guidance, including its forecast of Net Operating Income of between $2.54 and $2.62 per share."
A summary of American Capital's dividend history follows. For further dividend history, please visit our website. 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.
You Can't Restate a Dividend!
AMERICAN CAPITAL'S DIVIDEND HISTORY
$10.31 Paid and Declared Since August 1997 IPO |
|
| Year/Quarter |
Dividend
Amount |
%Change Over
Prior Year Quarter,
Prior Year Total |
Extra
Dividend |
Total |
| 2002 |
|
| Q4 |
$0.67 |
18% |
|
| 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 |
|
$10.31 |
|
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 $0.67 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 with capital resources exceeding $1 billion. American Capital is an equity partner in management and employee buyouts; invests in private equity sponsored buyouts, and provides capital directly to private and small public companies. American Capital provides senior debt, mezzanine debt and equity to fund 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.
