PURCHASE, N.Y., Oct. 14, 2013 (GLOBE NEWSWIRE) -- MVC CAPITAL, Inc. (NYSE:MVC), a publicly traded business development company that makes private debt and equity investments, announced today that its Board of Directors has declared a dividend of $0.135 per share to be distributed to shareholders for the fourth quarter of fiscal 2013. The dividend is payable on October 31, 2013 to shareholders of record on October 24, 2013. This distribution represents the thirty-fourth consecutive quarterly dividend paid by the Fund since implementing a dividend policy in July of 2005. The dividends issued under current management have resulted in approximately $98 million in distributions to the Fund's shareholders.
MVC recently announced that the sale of its investment in U.S. Gas & Electric, Inc. ("USG&E") could cause a material increase in MVC's dividends to shareholders. As a result, subject to a final determination by the Board of Directors and assuming the sale of USG&E closes in accordance with agreed upon terms prior to October 31, 2013, the Board of MVC Capital expects to declare a supplemental dividend for the fourth quarter, prior to the end of its fiscal year, and to increase its fiscal 2014 quarterly dividends.
About MVC Capital, Inc.
MVC Capital is a Business Development Company traded on the New York Stock Exchange that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries. For MVC's investor relations, please call Jackie Rothchild at 914-510-9400. All media inquiries should be directed to Nathaniel Garnick at 212-687-8080.
The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including: MVC Capital's ability to execute its investment strategy; the performance of MVC Capital's investments; and changes in economic or financial market conditions and other factors that are enumerated in the company's periodic filings with the Securities and Exchange Commission. MVC Capital disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.
The amount and specific timing of any future dividends (including any supplemental dividend) is subject to the final determination of the Board of Directors and depends upon the actual results of the Company and applicable provisions of law. At this time, the Fund is unable to make a conclusive determination as to the characteristics of the distributions discussed herein. In January, a Form 1099 DIV will be sent to shareholders that will state the aggregate amount and actual tax characterization of distributions for the preceding year. There can be no assurance that future MVC dividend payments will match or exceed historic ones, or that they will be made at all.
CONTACT: Investor Relations MVC Capital Jackie Rothchild, 914-510-9400 or KCSA Strategic Communications Jeffrey Goldberger, 212-896-1289 Media Inquiries Sard Verbinnen & Co Nathaniel Garnick/Patrick Scanlan 212-687-8080Source:MVC Capital