Bethesda, MD - December 12, 2002 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that its Board of Directors has declared an extra dividend on its common stock of $0.02 per share payable on January 10, 2003 to shareholders of record as of December 31, 2002. Total regular dividends for 2002 are $2.55 per share, an increase of 15% over 2001. Total dividends paid and declared for 2002 is $2.57. American Capital has declared a total of $10.33 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 $0.02 per share is sufficient to prevent the Company from paying an excise tax for 2002. American Capital's paid and declared dividends are a distribution of taxable income and no portion is a return of capital. Since going public in August of 1997 through the 3rd quarter of this year, American Capital has collected $387 million in cash from its portfolio companies and has paid $240 million of dividends.
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, please click here or call its Shareholder Relations Department at (301) 841-1359.
You Can't Restate a Dividend!
AMERICAN CAPITAL'S DIVIDEND HISTORY
$10.33 Paid and Declared Since August 1997 IPO |
|
| Year/Quarter |
Dividend
Amount |
%Change Over
Prior Year Quarter,
Prior Year Total |
Extra
Dividend |
Total |
| 2002 |
$2.55 |
15% |
$0.02 |
$2.57 |
| 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 |
|
$10.33 |
|
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.
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.
