Patriot Capital Funding, Inc. (NasdaqGS: PCAP), a specialty finance
company providing flexible financing solutions to private equity
sponsors focused on making investments in small- to mid-sized companies,
today announced that its board of directors has declared a cash dividend
of $0.33 per share for the second quarter of 2008.
Record date: June 5, 2008
Payment date: July 16, 2008
Dividends are paid from taxable income. Our board of directors
determines quarterly dividends based on estimates of taxable income,
which differ from book income due to changes in unrealized appreciation
and depreciation of investments and due to temporary and permanent
differences in income and expense recognition.
We have adopted a dividend reinvestment plan (“DRIP”)
that provides for reinvestment of our dividends on behalf of our
stockholders, unless a stockholder elects to receive cash. As a result,
if we declare a cash dividend, our stockholders who have not “opted
out” of our dividend reinvestment plan will
have their cash dividends automatically reinvested in additional shares
of our common stock, rather than receiving the cash dividends. If your
shares of our common stock are held through a brokerage firm or other
financial intermediary and you wish to participate in the DRIP, please
contact your broker or other financial intermediary.
As a reminder, Patriot Capital Funding will report operating results for
the 2008 first quarter on Friday, May 9, 2008. Management will host a
conference call and webcast to discuss the results that morning at 11:00
a.m. (ET). The details for the conference call and webcast are provided
below.
Conference Call:
Friday, May 9, 2008 at 11:00 a.m. (ET)
Dial-in Number:
888/343-7139
Call Replay Until:
May 11, 2008 at 1:00 p.m. (ET)
Replay Number:
800/633-8284
Replay Access Code:
21382172
Webcast:
www.patcapfunding.com
Web Replay:
30 days
About Patriot Capital Funding, Inc.
Patriot Capital Funding, Inc. (www.patcapfunding.com)
is a specialty finance company providing customized financing solutions
primarily to private equity sponsors focused on making investments in
small- to mid-sized companies. Patriot Capital Funding typically invests
in companies with annual revenues ranging from $10 million to $100
million that operate in diverse industry sectors. Investments usually
take the form of senior secured loans, junior secured loans, and/or
subordinated debt investments – which may
contain equity or equity-related instruments. Patriot Capital Funding
also offers "one-stop" financing, which typically includes a revolving
credit line, one or more senior term loans and a subordinated debt
investment. Patriot Capital Funding also makes equity co-investments of
generally up to $2.0 million and investments in broadly syndicated loans.
Forward-Looking Statements
This press release may contain certain forward-looking statements,
including statements with regard to the future performance of Patriot
Capital Funding. Words such as "believes," "expects," "projects," and
"future" or similar expressions are intended to identify forward-looking
statements. These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. Certain
factors could cause actual results to differ materially from those
projected in these forward-looking statements, and some of these factors
are enumerated in Patriot Capital Funding's Form 10-K for the year ended
December 31, 2007, and other filings with the Securities and Exchange
Commission. Patriot Capital Funding undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
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