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BOSTON, Dec. 15, 2010 (GLOBE NEWSWIRE) -- THL Credit, Inc. (Nasdaq:TCRD) ("THL Credit"), a middle market capital specialist, today announced that its Board of Directors has declared its fiscal fourth quarter 2010 dividend of $0.15 per share, payable on Jan. 28, 2011, to stockholders of record as of Dec. 31, 2010. The dividend will be paid from taxable earnings and reported to shareholders on Form 1099-DIV after the end of the calendar year.
"In the past two quarters, our dividend announcements coincided with the release of our quarterly earnings results. We have moved up the timing of this quarter's dividend declaration to minimize the potential excise tax THL Credit may be required to pay for 2010 on any undistributed taxable income. We believe this is the most favorable approach to take on behalf of shareholders," said Terrence W. Olson, Chief Operating and Chief Financial Officer of THL Credit.
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 invests primarily in private subordinated debt, or mezzanine debt, in middle market companies with annual revenues of between $25 million and $500 million that require capital for growth and acquisitions. Such investments in many cases include an associated equity component such as warrants, preferred stock or other similar securities. THL Credit's investment activities are managed by THL Credit Advisors LLC, an investment advisor registered under the Investment Advisers Act of 1940.
THL Credit – F
CONTACT: THL Credit, Inc.
Terrence W. Olson, COO & CFO
Sard Verbinnen & Co