Stellus Capital Investment Corporation Reports Results for its Third Fiscal Quarter Ended September 30, 2020
HOUSTON , Oct. 30, 2020 |PRNewswire| -- Stellus Capital Investment Corporation (NYSE: SCM ) ("Stellus" or "the Company") today announced financial results for its third fiscal quarter ended September 30, 2020 . "I am pleased to report that our asset quality remains stable and that our third quarter net investment income of $0.27 per share exceeded the regular third quarter distribution of $0.25 per share. In addition, during the quarter, we extended the commitment termination date of our $230 million bank facility to September 18, 2024 with a final maturity of September 18, 2025 , and amended certain covenants and conditions of the facility, including a reduction in the required asset coverage," reported Robert T. Ladd , Chief Executive Officer of Stellus Capital Investment Corporation. Mr. Ladd further stated, "With regard to distributions, we declared distributions in an aggregate of $0.56 per share during the quarter in order to complete the distribution of spillover income from 2019 in a timely manner, consistent with maintaining our qualification for taxation as a Regulated Investment Company and to eliminate our liability for corporate-level U.S. federal income tax.
Stellus Capital Investment Corporation Reports Results for its Third Fiscal Quarter Ended September 30, 2020
HOUSTON , Oct. 30, 2020 |PRNewswire| -- Stellus Capital Investment Corporation (NYSE: SCM ) ("Stellus" or "the Company") today announced financial results for its third fiscal quarter ended September 30, 2020 . "I am pleased to report that our asset quality remains stable and that our third quarter net investment income of $0.27 per share exceeded the regular third quarter distribution of $0.25 per share. In addition, during the quarter, we extended the commitment termination date of our $230 million bank facility to September 18, 2024 with a final maturity of September 18, 2025 , and amended certain covenants and conditions of the facility, including a reduction in the required asset coverage," reported Robert T. Ladd , Chief Executive Officer of Stellus Capital Investment Corporation. Mr. Ladd further stated, "With regard to distributions, we declared distributions in an aggregate of $0.56 per share during the quarter in order to complete the distribution of spillover income from 2019 in a timely manner, consistent with maintaining our qualification for taxation as a Regulated Investment Company and to eliminate our liability for corporate-level U.S. federal income tax.