Newtek Business Services (NEWT) Declares $0.43 Quarterly Dividend; 12.6% Yield

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Go back to Newtek Business Services (NEWT) Declares $0.43 Quarterly Dividend; 12.6% Yield

Newtek Declares Third Quarter Dividend of $0.43 Per Share

September 7, 2016 10:08 AM EDT

NEW YORK, Sept. 07, 2016 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. (Newtek or the Company), (NASDAQ: NEWT), an internally managed business development company ("BDC"), today announced that its board of directors declared a third quarter cash dividend(1) of approximately $6.3  million, or $0.43 per share, payable on September 30, 2016 to shareholders of record as of September 20, 2016.  The Company is reconfirming its full year 2016 dividend forecast of approximately $22.2 million, or $1.53(2) per share. 

In addition, the Company announced that it funded $20.6 million in SBA 7(a) loans in August 2016, which represents the largest dollar volume of SBA 7(a) loans funded... More