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BlackRock Kelso Capital Corporation Declares Regular Fourth Quarter Dividend Of $0.26 Per Share, Announces September 30, 2011 Quarterly Financial Results

Stocks in this article: BKCC

Dividends

On November 2, 2011, our Board of Directors declared a dividend of $0.26 per share, payable on January 4, 2012 to stockholders of record at the close of business on December 21, 2011.

Dividends declared to stockholders for the three and nine months ended September 30, 2011 totaled $19.0 million, or $0.26 per share, and $61.3 million, or $0.84 per share, respectively. For the three and nine months ended September 30, 2010, dividends declared to stockholders totaled $21.0 million, or $0.32 per share, and $57.2 million, or $0.96 per share, respectively. Tax characteristics of all dividends are reported to stockholders on Form 1099 after the end of the calendar year.

We have elected to be taxed as a regulated investment company, or RIC, under Subchapter M of the Internal Revenue Code. To maintain our status as a RIC, we must distribute annually to our stockholders at least 90% of our investment company taxable income, and at least 98% of our income (both ordinary income and net capital gains) to avoid an excise tax. We have made, and intend to continue to make, timely distributions sufficient to satisfy the annual distribution requirements to maintain our qualification as a RIC. We also intend to make distributions of net realized capital gains, if any, at least annually. We may, at our discretion, carry forward taxable income in excess of calendar year distributions and pay a 4% excise tax on this income. We will accrue excise tax on estimated undistributed taxable income as required.

Dividend Reinvestment Plan

We maintain an “opt out” dividend reinvestment plan for our common stockholders. As a result, if we declare a dividend, stockholders’ cash dividends will be automatically reinvested in additional shares of our common stock, unless they specifically “opt out” of the dividend reinvestment plan so as to receive cash dividends. With respect to our dividends paid to stockholders for the nine months ended September 30, 2011 and 2010, dividends reinvested pursuant to our dividend reinvestment plan totaled $6.3 million and $3.7 million, respectively.

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