Twenty-Ninth Consecutive Quarterly Dividend Bringing Cumulative
Distributions to $7.64 per Share since IPO in June 2005
PALO ALTO, Calif.--(BUSINESS WIRE)--
Technology Growth Capital, Inc. (NYSE: HTGC) ("Hercules"), the
leading specialty finance company focused on providing senior secured
loans to venture capital-backed companies in technology-related markets,
including technology, biotechnology, life science, and cleantech
industries, at all stages of development, today announced that its Board
of Directors has declared a third quarter cash dividend of $0.24 per
share, that will be payable on November 21, 2012, to shareholders of
record as of November 14, 2012.
Hercules' Board of Directors maintains a variable dividend policy with
the objective of distributing four quarterly distributions in an amount
that approximates 90 - 100% of our taxable quarterly income or potential
annual income for a particular year. In addition, at the end of the
year, we may also pay an additional special dividend or fifth dividend;
such that we may distribute approximately all of our annual taxable
income in the year it was earned, while maintaining the option to spill
over our excess taxable income.
The determination of the tax attributes of Hercules' distributions is
made annually as of the end of Hercules' fiscal year based upon its
taxable income for the full year and distributions paid for the full
year. Therefore, a determination made on a quarterly basis may not be
representative of the actual tax attributes of its distributions for a
full year. If we had determined the tax attributes of our distributions
year-to-date as of September 30, 2012, approximately 100.0% would be
from ordinary income and spillover earnings from 2011. However, there
can be no certainty to shareholders that this determination is
representative of what the tax attributes of its 2012 distributions to
shareholders will actually be.
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. (NYSE: HTGC) ("Hercules") is
the leading specialty finance company focused on providing senior
secured loans to venture capital-backed companies in technology-related
markets, including technology, biotechnology, life science and cleantech
industries at all stages of development. Since inception (December
2003), Hercules has committed more than $3.0 billion to over 215
companies and is the lender of choice for entrepreneurs and venture
capital firms seeking growth capital financing.
Hercules' common stock trades on the New York Stock Exchange ("NYSE")
under the ticker symbol "HTGC."
In addition, Hercules has two outstanding bond issuances of 7.00% Senior
Notes due 2019—the April 2019 Notes and September 2019 Notes—which trade
on the NYSE under the symbols "HTGZ" and "HTGY," respectively.
Companies interested in learning more about financing opportunities
should contact firstname.lastname@example.org, or call
The statements contained in this release that are not purely historical
are forward-looking statements. These forward-looking statements are not
guarantees of future performance and are subject to uncertainties and
other factors that could cause actual results to differ materially from
those expressed in the forward-looking statements including, without
limitation, the risks, uncertainties, including the uncertainties
surrounding the current market turbulence, and other factors we identify
from time to time in our filings with the Securities and Exchange
Commission. Although we believe that the assumptions on which these
forward-looking statements are based are reasonable, any of those
assumptions could prove to be inaccurate and, as a result, the
forward-looking statements based on those assumptions also could be
incorrect. You should not place undue reliance on these forward-looking
statements. The forward-looking statements contained in this release are
made as of the date hereof, and Hercules assumes no obligation to update
the forward-looking statements for subsequent events.
Hercules Technology Growth Capital, Inc.
Main, 650-289-3060 HT-HN
Source: Hercules Technology Growth Capital, Inc.
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