BOSTON, Dec. 20, 2012 (GLOBE NEWSWIRE) -- THL Credit, Inc. (Nasdaq:TCRD) ("THL Credit") today announced that its Board of Directors has declared a special dividend of $0.05 per share payable on Jan. 28, 2013, to stockholders of record as of Dec. 31, 2012. The dividend will be paid from taxable earnings and reported to shareholders on Form 1099-DIV after the end of the calendar year.
"This special dividend is attributable to earnings generated from a significant level of prepayment premiums this year, and is consistent with our prior dividend practices," said Terrence W. Olson, Chief Operating Officer and Chief Financial Officer of THL Credit. "We are pleased to distribute such income to our shareholders."
About THL Credit
THL Credit is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. THL Credit's investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies.
THL Credit is headquartered in Boston, with additional investment teams in Los Angeles and Houston. THL Credit invests primarily in junior capital securities, including subordinated, or mezzanine, debt and second lien secured debt, which junior capital may include an associated equity component such as warrants, preferred stock or other similar securities. THL Credit may also selectively invest in first lien senior secured loans that generally have structures with higher interest rates, which include unitranche investments. In certain instances, THL Credit will also make direct equity investments. THL Credit targets investments in middle market companies with annual revenues of between $25 million and $500 million that require capital for growth and acquisitions. THL Credit's investment activities are managed by THL Credit Advisors LLC, an investment adviser registered under the Investment Advisers Act of 1940.
The THL Credit logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12478
CONTACT: Investor Contact: THL Credit, Inc. Terrence W. Olson COO & CFO 800-450-4424 Media Contact: Sard Verbinnen & Co Michael Henson 212-687-8080
Source:THL Credit, Inc.