Newtek Business Services Corp.
Newtek Business Services Corp. (Form: 8-K, Received: 03/07/2017 06:06:11)



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

March 6, 2017 (March 6, 2017)
Date of Report (date of Earliest Event Reported)

NEWTEK BUSINESS SERVICES CORP.
(Exact Name of Company as Specified in its Charter)

MARYLAND
814-01035
46-3755188
(State or Other Jurisdiction of Incorporation or Organization)
(Commission File No.)
(I.R.S. Employer Identification No.)

1981 Marcus Avenue, Suite 130, Lake Success, NY 11042
(Address of principal executive offices and zip code)

(212) 356-9500
(Company’s telephone number, including area code)

(Former name or former address, if changed from last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






Forward-Looking Statements

Statements in this Current Report on Form 8-K (including the exhibits), including statements regarding Newtek Business Services Corp.’s (“Newtek” or the “Company”) beliefs, expectations, intentions or strategies for the future, may be forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the 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 Securities and Exchange Commission.  Newtek undertakes no obligation to update any forward-looking statement to reflect events or circumstances that may arise after the date of this filing.

Item 2.02.      Results of Operations and Financial Condition.
On March 6, 2017 the Company issued a press release entitled “Newtek Declares First Quarter Dividend of $0.36 Per Share; Reaffirms 2017 Annual Cash Dividend Forecast of $1.57 per Share” (the “Press Release”). A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended.
Item 9.01.       Financial Statements and Exhibits.
 
(d)  Exhibits.
 
Exhibit Number
 
Description
 
 
 
99.1
 
Press Release, dated March 6, 2017, entitled “Newtek Declares First Quarter Dividend of $0.36 Per Share; Reaffirms 2017 Annual Cash Dividend Forecast of $1.57 per Share.”








SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

                    
 
NEWTEK BUSINESS SERVICES CORP.
 
 
 
Date: March 6, 2017
By:
/ S /    B ARRY  S LOANE        
 
 
Barry Sloane
 
 
Chairman of the Board and Chief Executive Officer







EXHIBIT INDEX
 
Exhibit Number
 
Description
 
 
 
99.1
 
Press Release, dated March 6, 2017, entitled “Newtek Declares First Quarter Dividend of $0.36 Per Share; Reaffirms 2017 Annual Cash Dividend Forecast of $1.57 per Share.”







LOGOWITHRA08.GIF
Exhibit 99.1
 
 
 
 
 
 
 
 
 

Newtek Declares First Quarter Dividend of $0.36 Per Share

Reaffirms 2017 Annual Cash Dividend Forecast of $1.57 per Share

Lake Sucess, N.Y. - March 6, 2017 - 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.

(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.

About Newtek Business Services Corp.

Newtek Business Services Corp. , Your Business Solutions Company ® , is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek ® brand to the small- and medium-sized business (“SMB”) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB accounts across all 50 states to help them grow their sales, control their expenses and reduce their risk.

Newtek’s and its portfolio companies’ products and services include: Business Lending, SBA Lending Solutions, Electronic Payment Processing , Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval) , eCommerce , Accounts Receivable Financing & Inventory Financing , The Secure Gateway, The Newtek Advantage , Insurance Solutions , Web Services , and Payroll and Benefits Solutions .
Newtek ® and Your Business Solutions Company ® are registered trademarks of Newtek Business Services Corp.
Note Regarding Forward Looking Statements
This press release contains certain forward-looking statements. Words such as “believes,” “intends,” “expects,” “projects,” “anticipates,” “forecasts,” “goal” 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 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 Securities and Exchange Commission and available through http://www.sec.gov/. Newtek cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.

SOURCE: Newtek Business Services Corp.

Investor Relations & Public Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / jcavuoto@newtekone.com