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Newtek Business Services Corp. Forecasts Paying an Annual Cash Dividend of $21.8 Million in 2016
The Company's board of directors expects to maintain a dividend policy with the objective of distributing quarterly distributions in an amount that approximates at least 90% to 98% 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. The full year 2015 and 2016 dividends are presently forecasted to be paid from the Company's annual taxable income.
(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 (the "DRIP"), at the election of shareholders.
About
Newtek's products and services include: Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), eCommerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage™, Insurance Services, Web Services, Data Backup, Storage and Retrieval and Payroll.
Note Regarding Forward Looking Statements
This press release contains certain forward-looking statements. Words such as "forecast," "projected," "believes," "plans," "intends," "expects," "projects," "continuing", "potentially", "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the forecasts, plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary
statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the
For more information, please visit the following websites:
www.thesba.com
FROM:Source:Newtek Business Services Corp. http://www.thesba.com Investor Relations Contact:Jayne Cavuoto Telephone: (212) 273-8179 / jcavuoto@thesba.com Public Relations Contact: Simrita Singh Telephone: (212) 356-9566 / ssingh@thesba.com Contacts:Newtek Business Services Corp. Barry Sloane Chairman and CEO 212-356-9500 bsloane@thesba.com
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