MVC Capital Declares Q4 Dividend; Imminent Raise Likely
MVC Capital has elected to stick to its existing dividend policy -- for the moment, anyway. The company declared a distribution of $0.135 per share for its Q4, to be paid on Oct. 31 to shareholders of record as of Oct. 24. That amount matches each of the company's four preceding disbursements, the most recent of which was dispensed at the end of July. Before that, MVC Capital paid $0.12 per share.
In the press release announcing the news, the company noted that the recent sale of its stake in U.S. Gas & Electric "could cause a material increase" in its payout. As a result, the company anticipates that it will declare a supplemental distribution for Q4 before the end of this year, and increase its disbursements in fiscal 2014.
The just-declared dividend annualizes to $0.54 per share. That yields 3.9% at MVC Capital's most recent closing stock price of $13.97.
The article MVC Capital Declares Q4 Dividend; Imminent Raise Likely originally appeared on Fool.com.Fool contributor Eric Volkman has no position in MVC Capital. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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