Fifth Street Senior Floating Rate Corp. Announces Its Fourth Consecutive Dividend Increase, Reflecting 11% Quarterly Growth

WHITE PLAINS, NY, May 15, 2014 (GLOBE NEWSWIRE) -- Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) ("FSFR") today announced that its Board of Directors declared a $0.30 dividend per share for the quarter ending September 30, 2014, representing an annualized run rate of $1.20 per share. This represents our fourth consecutive quarterly dividend increase and an 11% increase from the prior quarter. Since FSFR's IPO in July 2013, the Board of Directors has declared quarterly dividends of $0.01, $0.20, $0.23, $0.27 and $0.30 per share.

The following table reflects the per share dividend which the Board of Directors declared on May 12, 2014:

Record Date Payment Date Amount
September 15, 2014 October 15, 2014 $0.30

"We are pleased to announce our fourth consecutive dividend increase to $0.30 per share. We have built a high quality portfolio of senior secured floating rate loans since our IPO last July, leading to consistent growth in net investment income per share. The breadth of Fifth Street's platform continues to provide attractive investment opportunities, which gave our Board of Directors added confidence in making its most recent dividend declaration," stated FSFR's President and Chief Investment Officer, Ivelin M. Dimitrov.

About Fifth Street Senior Floating Rate Corp.'s Dividend Reinvestment Plan

FSFR's dividend reinvestment plan ("DRIP") provides for reinvestment of dividends, unless stockholders elect to receive cash. As a result, if FSFR's Board of Directors declares a cash dividend, FSFR's stockholders whose shares are registered in their name and who have not "opted out" of FSFR's DRIP will have their cash dividends automatically reinvested in additional shares of FSFR common stock, rather than receiving cash dividends. FSFR provides up to a 5% discount on newly-issued shares purchased through the DRIP (provided that shares are not issued at less than net asset value per share). If you are a FSFR stockholder and your shares of FSFR common stock are held through a brokerage firm or other financial intermediary and you wish to participate in the DRIP, please contact your broker or other financial intermediary.

About Fifth Street Senior Floating Rate Corp.

Fifth Street Senior Floating Rate Corp. is a specialty finance company that provides financing solutions in the form of floating rate senior secured loans to small and mid-sized companies, primarily in connection with investments by private equity sponsors. The company's investment objective is to maximize its portfolio's total return by generating current income from its debt investments while seeking to preserve its capital. The company has elected to be regulated as a business development company and is externally managed by Fifth Street Management LLC. Named 2013 "Lender Firm of the Year" by The M&A Advisor and "Lender of the Year" by Mergers & Acquisitions, Fifth Street Management LLC is an SEC-registered investment adviser and leading alternative asset manager with over $4 billion in assets under management. With a track record of more than 15 years and offices across the country, Fifth Street's nationally recognized platform has the ability to hold loans up to $150 million, commit up to $250 million and structure and syndicate transactions up to $500 million. FSFR's website can be found at fsfr.fifthstreetfinance.com.

Forward-Looking Statements

This press release may contain certain forward-looking statements, including statements with regard to the future performance of the company. Words such as "believes," "expects," "estimates," "projects," "anticipates," and "future" or similar expressions are intended to identify 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 to differ materially from those projected in these forward-looking statements, and these factors are identified from time to time in the company's filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Investor Contact: Dean Choksi, Executive Director of Finance & Head of Investor Relations (914) 286-6855 dchoksi@fifthstreetfinance.com Media Contact: Nick Rust Prosek Partners (212) 279-3115 ext. 252 pro-fifthstreet@prosek.com

Source:Fifth Street Senior Floating Rate Corp.