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MarketScreener Homepage  >  Equities  >  Nasdaq  >  StoneCastle Financial Corp.    BANX


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StoneCastle Financial Corp. Announces Special Distribution of $0.05 and Regular Cash Distribution of $0.38 Per Share for Fourth Quarter 2020

12/02/2020 | 05:40pm EST

DENVER, Dec. 02, 2020 (GLOBE NEWSWIRE) -- StoneCastle Financial Corp. (Nasdaq: BANX) ("StoneCastle Financial" or the "Company"), an SEC registered closed-end management investment company, today announced that its Board of Directors has declared a special cash distribution of $0.05 per share generated from excess income, and a regular cash distribution of $0.38 per share for the fourth quarter 2020. The total distribution of $0.43 per share will be payable on January 5, 2021 to shareholders of record on December 21, 2020.

“This special distribution reflects the Company’s prudent investment strategy and our ability to generate income in excess of our regular quarterly dividend during 2020. It also reflects the seamless transition to StoneCastle-ArrowMark Asset Management and our continued commitment to creating long-term value for our shareholders,” said Sanjai Bhonsle, Chairman & CEO.


A portion of the Company’s distributions may, from time to time, include sources other than net investment income, including a return of capital. Investors should understand that a return of capital is not a distribution from income or gains of a Company. As required under the Investment Company Act of 1940, as amended, a notice with the estimated components of the distribution will be sent to shareholders at the time of payment if it does not consist solely of net investment income. The notice should not be used to prepare tax returns as the estimates indicated in the notice may differ from the ultimate federal income tax characterization of distributions. After the end of each calendar year, investors will be sent a Form 1099-DIV informing them how to report distributions received during that year for federal income tax purposes.

About StoneCastle Financial

StoneCastle Financial is an SEC registered non-diversified, closed-end investment company listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide stockholders with current income and, to a lesser extent, capital appreciation. StoneCastle Financial is managed by StoneCastle-ArrowMark Asset Management, LLC. To learn more, visit www.stonecastle-financial.com.

Forward-Looking Statements

This press release contains statements that are not historical facts and are forward-looking statements based on current management expectations involving substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Actual future results may differ significantly from those stated in any forward-looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of shares of common stock, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in StoneCastle Financial’s filings with the SEC.


Investor Contact:
Julie Muraco                                
Source: StoneCastle Financial Corp.

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Financials (USD)
Sales 2020 15,8 M - -
Net income 2020 3,71 M - -
Net Debt 2020 - - -
P/E ratio 2020 35,0x
Yield 2020 7,62%
Capitalization 131 M 131 M -
Capi. / Sales 2020 8,27x
Capi. / Sales 2021 7,37x
Nbr of Employees -
Free-Float 99,8%
Duration : Period :
StoneCastle Financial Corp. Technical Analysis Chart | MarketScreener
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Technical analysis trends STONECASTLE FINANCIAL CORP.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 22,00 $
Last Close Price 19,96 $
Spread / Highest target 10,2%
Spread / Average Target 10,2%
Spread / Lowest Target 10,2%
EPS Revisions
Managers and Directors
Sanjai Bhonsle Chairman & Chief Executive Officer
Patrick J. Farrell Chief Financial Officer
Alan J. Ginsberg Lead Independent Director
Emil W. Henry Lead Independent Director
Karen Lynn Reidy Director