Keating Capital Declares $0.0109 per Share Special Dividend
2013 Dividend Payable in January 2014
GREENWOOD VILLAGE, Colo. -- December 19, 2013
On December 19, 2013, the Board of Directors of Keating Capital, Inc. (the
“Company”) (Nasdaq: KIPO), a closed-end fund that has elected to be regulated
as a business development company under the Investment Company Act of 1940,
declared a special dividend of $0.0109 per share.
As of December 30, 2013, the record date of the dividend, the Company will
have 9,548,902 shares of common stock outstanding, including shares issued in
the Company’s recently completed rights offering. The $0.0109 per share
dividend represents a distribution of $104,072 in previously undistributed net
gains realized in 2013.
The Company previously paid a special dividend of $0.24 per share for each of
the second and third quarters of 2013, representing approximately $4.3 million
of net gains realized by the Company during 2013. With this third dividend,
the Company will have distributed 100% of its $4.4 million in net gains
realized in 2013. For 2013, the Company will have declared dividends totaling
$0.49 per share, all of which will be characterized as long-term capital
The cash distribution amount, ex-dividend, record and payment dates are set
forth in the table below.
Special Dividend Amount Ex-Dividend Record Date Payment
per Share Date Date
Fourth Quarter $0.0109 December 26, December January
2013 2013 30, 2013 13, 2014
The cash dividend will be payable on the shares of the Company’s common stock
outstanding as of the record date of December 30, 2013. Although the dividend
will be paid on January 13, 2014, the $0.0109 per share dividend will be
treated as a long-term capital gain for 2013.
Keating Capital maintains a dividend reinvestment plan ("DRIP") that provides
for the reinvestment of dividends on behalf of its stockholders, unless a
stockholder has elected to receive dividends in cash. As a result, if Keating
Capital declares a dividend, stockholders who have not "opted out" of the DRIP
by the dividend record date will have their dividend automatically reinvested
into additional shares of common stock. Although the Company has a number of
options to satisfy the share requirements of the DRIP, it currently expects
that the shares required to be purchased under the DRIP will be acquired
through open market purchases of common stock by the DRIP plan administrator.
The shares purchased in the open market to satisfy the DRIP requirements will
be valued based upon the average price of the applicable shares purchased by
the DRIP plan administrator.
About Keating Capital, Inc.
Keating Capital (www.keatingcapital.com) is a closed-end fund (regulated as a
business development company under the Investment Company Act of 1940) that
specializes in making pre-IPO investments in emerging growth companies that
are committed to and capable of becoming public. Keating Capital provides
investors with the ability to participate in a publicly traded fund that
allows its stockholders to share in the potential value accretion that Keating
Capital believes typically occurs once a company transforms from private to
public status. Keating Capital’s shares are listed on Nasdaq under the ticker
To be added to Keating Capital’s email distribution list to receive quarterly
newsletters and other announcements, go to www.KeatingCapital.com/contact.
This press release may contain statements of a forward-looking nature relating
to future events. These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. These statements
reflect Keating Capital’s current beliefs, and a number of important factors
could cause actual results to differ materially from those expressed in this
press release, including the factors set forth in “Risk Factors” set forth in
Keating Capital’s Form 10-K and Form 10-Q filed with the Securities and
Exchange Commission (“SEC”), and subsequent filings with the SEC. Please refer
to Keating Capital’s SEC filings for a more detailed discussion of the risks
and uncertainties associated with its business, including but not limited to
the risks and uncertainties associated with investing in micro- and small-cap
companies. Except as required by the federal securities laws, Keating Capital
undertakes no obligation to revise or update any forward-looking statements,
whether as a result of new information, future events or otherwise. The
reference to Keating Capital’s website has been provided as a convenience, and
the information contained on such website is not incorporated by reference
into this press release.
Keating Capital, Inc.
Margie L. Blackwell, 720-889-0133
Investor Relations Director
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