BETHESDA, Md., July 30 /PRNewswire-FirstCall/ -- American Capital Ltd.
(Nasdaq: ACAS) (the "Company") announced today the form in which the dividend
declared by its Board of Directors on June 11, 2009 will be paid and the
results of its stockholders' elections related to the dividend. The dividend
of $1.07 per share is payable on August 7, 2009, to stockholders of record as
of the close of business on June 22, 2009, with an ex-dividend date of June
18, 2009. Stockholders had until July 24, 2009 to elect whether to receive
the dividend in cash (up to an aggregate maximum of 10% of the total dividend
paid) or in shares of common stock. Due to the original terms of the
dividend, stockholders who elected to receive cash will receive a combination
of cash and common stock.
The dividend will consist of approximately $24 million in cash and
approximately 67 million shares of common stock or 30% of American Capital's
shares prior to the dividend. The amount of cash elected to be received was
greater than the cash limit of 10% of the aggregate dividend amount, thus
resulting in the payment of a combination of cash and stock to stockholders
who elected to receive cash. The number of shares of common stock comprising
the stock portion was calculated based on a price of $3.2199 per share, the
volume weighted trading price per share of the common stock on the NASDAQ
Global Select Market on July 27, 28 and 29, 2009.
Summarized results of the dividend elections are as follows:
-- Stockholders who elected to receive the dividend solely in shares of
common stock and stockholders who did not make an election will
receive 0.332 shares of common stock for each share of common stock
they owned on the record date. Holders of approximately 42% of
American Capital's common stock elected to receive only stock or did
not make an election.
-- Stockholders electing to receive the dividend in all cash, will
receive cash in the amount of $0.185 per share or 17% of the $1.07
dividend and 0.275 shares of common stock or 83% of the total dividend
for each share of common stock they owned on the record date.
-- Fractional shares will be issued, if applicable.
Stockholders who hold their shares through a bank, broker or nominee and
have questions regarding the dividend should contact their bank, broker or
Registered stockholders with questions regarding the dividend may call
American Capital's transfer agent, Computershare Trust Company, N.A. at (800)
For further information or questions, please call our Investor Relations
Department at (301) 951-5917 or send an email to IR@AmericanCapital.com.
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm and global asset
manager. American Capital, both directly and through its asset management
business, originates, underwrites and manages investments in middle market
private equity, leveraged finance, real estate and structured products.
Founded in 1986, American Capital has $11 billion(1) in capital resources
under management and ten offices in the U.S., Europe and Asia. For further
information, please refer to www.AmericanCapital.com.
(1) As of March 31, 2009.
Investors - (301) 951-5917
SOURCE: American Capital Ltd.