This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

CapitalSource Declares A Special Dividend Of $0.50 Per Share In Addition To Regular Fourth-Quarter Dividend

  • Fourth Quarter 2012 Dividend of $0.01 per Share  
  • Special Dividend Totals $106 Million
  • Year to Date Loan Production Has Already Exceeded Original $2.2 Billion Projection

LOS ANGELES, Dec. 10, 2012 (GLOBE NEWSWIRE) -- CapitalSource Inc. (NYSE:CSE) today announced that its Board of Directors has declared a special cash dividend of $0.50 per common share, and a quarterly cash dividend of $0.01 per share on its common stock for the fourth quarter of 2012. Both dividends are payable on or about December 26, 2012 to shareholders of record on December 20, 2012. The ex-dividend date for the quarterly and special dividend will be December 18, 2012. The aggregate amount of the special dividend will be approximately $106 million.

"Our announcement of a $0.50 per share special dividend, to be paid before the end of the calendar year, is a continuation of our ongoing commitment to return Parent Company capital to our shareholders while growing our overall business and maintaining solid capital levels at CapitalSource Bank," said James J. Pieczynski, CapitalSource CEO. "Following payment of the dividends announced today, we will have returned nearly $900 million to shareholders over the last 24 months, principally in the form of share repurchases, and we intend to continue returning Parent capital as we generate additional excess liquidity."

"In addition to returning excess Parent Company capital, we are focused on growing our loan portfolio while maintaining a credit first standard. Despite competitive challenges, we believe that our national specialty lending franchise can continue its strong performance," commented Tad Lowrey, CapitalSource Bank Chairman and CEO. "As evidence, we have already closed approximately $600 million of new loans this quarter, taking our year to date total above $2.3 billion and exceeding our original full year projection. In addition, we have a strong pipeline of approved loans expected to close prior to year end."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs