Allied Capital Commercial Corp. Declares Regular Quarterly Dividend of 53 Cents Per Share.WASHINGTON--(BUSINESS WIRE)--Nov. 4, 1997--The board of directors of Allied Capital Commercial Corp. (ALCC ALCC Airlift Control Center ALCC Abundant Life Christian Church ALCC Airlift Coordination Cell ALCC Airborne Launch Control Center ALCC Airlift Coordination Center ALCC American Lighthouse Coordinating Committee ALCC Alternate Launch Control Center ) declared the company's fourth quarter dividend in the amount of 53 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . The company is currently soliciting votes from stockholders to approve its merger with Allied Capital Corp., Allied Capital Corp. II, Allied Capital Lending Capital lending is the process of a large company, or corporation, offering financing on large "ticket" items to encourage the customer to purchase that item. Many major corporations have set up finance divisions, or subsidiaries, to help the customer purchase their product over Corp., and Allied Capital Advisers Inc. The special meeting of stockholders to approve the merger is scheduled to occur on Nov. 26, 1997. The company's board of directors decided to maintain the regular dividend at a rate of 53 cents per share until the outcome of the stockholder vote is determined. The company has paid regular quarterly cash dividends every quarter and an annual extra dividend every year since its inception in 1992. The quarterly dividend is payable as follows: Amount: 53 cents per share Ex-Dividend Date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. : Dec. 10, 1997 Record Date: Dec. 12, 1997 Payment Date: Dec. 29, 1997 -0- Allied Capital Commercial Corp. is a publicly traded commercial mortgage REIT Mortgage REIT An REIT that invests in loans secured by real estate which derive income from mortgage interest and fees. mortgage REIT . The company is headquartered in Washington, and traded on the Nasdaq National Market, symbol ALCC. There are a total of 14,743,736 shares outstanding. For 1996, the company distributed a total of $1.98 per share; for 1995, the company paid a total of $1.78 per share; for 1994, distributions totaled $1.47 per share. For further information, please contact Allied Capital's Investor Relations Investor relations The process by which the corporation communicates with its investors. Department directly at 202/973-6326, via fax at 202/659-2053, receive press releases and other information through our News-On-Demand fax service at 888/329-5519, or visit our world wide web site at www.alliedcapital.com . CONTACT: Allied Capital, Washington Suzanne Sparrow, 202/973-6326 |
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