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Houston, TX, Dec. 14, 2012 (GLOBE NEWSWIRE) -- NGP Capital Resources Company (NASDAQ: NGPC) (the "Company") today announced that its Board of Directors has declared a quarterly dividend to stockholders in the amount of $0.16 per common share. The expected dividend payment date is January 7, 2013 to stockholders of record on December 28, 2012.
Steve Gardner, President and CEO, commented, "This marks the thirty-second consecutive quarterly dividend since our initial public offering in November 2004, and no change in amount from the dividend declared in the third quarter of 2012."
Management expects that the dividend will be paid out of ordinary income for tax purposes. The Company determines the tax characteristics of its dividend distributions as of the end of the fiscal year, based on the taxable income for the full year and distributions paid during the year. The tax characteristics for dividends paid in 2012 will be reported to each stockholder on Form 1099-DIV after the end of the year. All dividend distributions in 2011 were paid from ordinary income.
The Company has an "opt out" dividend reinvestment plan, or "DRIP," for its stockholders. Consequently, when the Company declares a cash dividend, stockholders who have not opted out of the DRIP automatically have their dividends reinvested in shares of NGPC common stock, rather than receiving their dividends in cash. A stockholder who has elected to receive dividends in cash may re-enroll in the DRIP at any time be notifying the plan administrator.
About NGP Capital Resources Company
NGP Capital Resources Company is a closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. We principally invest in private companies and from time to time, we may also invest in public companies. We invest primarily in senior secured and mezzanine loans according to our business plan and in some instances receive equity interests in portfolio companies in connection with such investments. Our manager is NGP Investment Advisor, LP, an affiliate of NGP Energy Capital Management (NGP ECM). Founded in 1988, NGP ECM is a premier investment franchise in the natural resources industry, which together with its affiliates has managed $13 billion in cumulative committed capital since inception.