|(1)||The dividend will be paid in cash or shares of the Company's Common Stock through participation in the Company's dividend reinvestment program ("DRIP"), at the election of shareholders.|
|(2)||Amount and timing of dividends, if any, remain subject to the discretion of the Company's Board of Directors.|
LAKE SUCCESS, N.Y., March 06, 2017 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. ("Newtek" or the "Company"), (NASDAQ:NEWT), an internally managed business development company ("BDC"), today announced that its board of directors declared a first quarter cash dividend (1) of $0.36 per share, payable on March 31, 2017 to shareholders of record as of March 20, 2017. In addition, the Company reaffirms its forecast of paying an annual cash dividend of $1.57 (2) per share in 2017. Barry Sloane, Chairman, President and Chief Executive Officer commented, "We are pleased to announce the Board's declaration of our first quarter 2017 cash dividend of $0.36 per share, which is an increase over the dividend of $0.35 per share for the first quarter of 2016. We believe our first quarter 2017 dividend is in line with anticipated stronger second, third and fourth quarter results, which we have historically experienced. We just released our full year 2016 financial results this afternoon, and will be hosting the corresponding conference call to discuss these results tomorrow, March 7, 2017 at 8:30am ET, which can be accessed through http://investor.newtekbusinessservices.com/events.cfm" Note regarding Dividend Payments: The Company's Board of Directors expects to maintain a dividend policy with the objective of making quarterly distributions in an amount that approximates 90 - 100% of the Company's annual taxable income. The determination of the tax attributes of the Company's distributions is made annually as of the end of the Company's fiscal year based upon its taxable income for the full year and distributions paid for the full year.