MCG Capital cuts distribution by 28.6%
The quarterly dividend is lowered from $0.07 to $0.05 per share by Business Development Company MCG Capital.
It marks the fourth dividend decrease since 2012 for MCG Capital, that now has lowered its dividend for two consecutive quarters. Last quarter the dividend was cut from $0.12 to $0.07.
MCG Capital is a Business Development Company (BDC) that describes itself as 'a solutions-focused commercial finance company providing capital and advisory services to lower middle-market companies throughout the United States. Our investment objective is to achieve attractive returns by generating current income and capital gains on our investments. Our capital is generally used by our portfolio companies to finance acquisitions, recapitalizations, buyouts, organic growth, working capital and other general corporate purposes'.
The indicated yield for MCG Capital is 5.2% based on the latest dividend cut.
It marks the fourth dividend decrease since 2012 for MCG Capital, that now has lowered its dividend for two consecutive quarters. Last quarter the dividend was cut from $0.12 to $0.07.
MCG Capital is a Business Development Company (BDC) that describes itself as 'a solutions-focused commercial finance company providing capital and advisory services to lower middle-market companies throughout the United States. Our investment objective is to achieve attractive returns by generating current income and capital gains on our investments. Our capital is generally used by our portfolio companies to finance acquisitions, recapitalizations, buyouts, organic growth, working capital and other general corporate purposes'.
The indicated yield for MCG Capital is 5.2% based on the latest dividend cut.
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