Hercules Technology Growth Capital (HTGC) Tops Q3 EPS by 3c; Declared Dividend

November 5, 2009 5:01 PM EST

Hercules Technology Growth Capital (NASDAQ: HTGC) reports Q3 EPS of $0.30, 3 cents better than the analyst estimate of $0.27. Revenue for the quarter was $17.7 million, which compares to the estimate of $16.51 million.

Effective in 2009, our Board of Directors adopted a policy to distribute four quarterly distributions in an amount that approximates 90 - 95% of our taxable income. Because of this policy, we anticipate paying an additional or “fifth” dividend in the fourth quarter in order to distribute approximately 98% of our annual taxable income in the year in which it was earned, rather than spilling over significant amounts of our excess taxable income into the following year. This policy is anticipated to be re-evaluated each year and is subject to change at anytime, pending market conditions.

The Company distributed a dividend of $0.30 per share during the third quarter. This distribution was the sixteenth consecutive quarterly dividend paid since its initial public offering in June 2005.

The Board of Directors also declared a cash dividend of $0.30 per share for the fourth quarter that will be payable on November 23, 2009, to shareholders of record as of October 20, 2009


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Comments

The "company"
Chris Moran on Nov 5, 2009 09:55 PM

The "company" again demostrates its ability to weather this economic downturn with a solid business plan.


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