Allied Capital Commercial Corp. increases quarterly dividend 4% to 50 cents per share.WASHINGTON--(BUSINESS WIRE)--Nov. 7, 1996-- Annual extra dividend to be declared in December December: see month. The board of directors of Allied Capital Commercial Corp. (Nasdaq: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 ) Thursday increased the company's quarterly cash dividend for the 12th consecutive quarter. The dividend was increased 4% to 50 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. from 48 cents per share. The regular quarterly dividend is payable as follows: -0-
Amount: 50 cents per share
Ex-dividend Date: Dec. 11, 1996
Record Date: Dec. 13, 1996
Payable Date: Dec. 31, 1996
-0- In addition, an annual extra dividend is expected to be declared which will represent the company's remaining net taxable income Under the federal tax law, gross income reduced by adjustments and allowable deductions. It is the income against which tax rates are applied to compute an individual or entity's tax liability. The essence of taxable income is the accrual of some gain, profit, or benefit to a taxpayer. for 1996. The exact amount of this dividend is not yet available, but is expected to be between 8 cents and 11 cents per share. -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, D.C. and traded on the Nasdaq National Market, symbol ALCC. There are a total of 14,166,024 shares outstanding. The company currently pays a regular quarterly cash dividend of 50 cents per share. For 1995, the company paid a total of $1.78 per share; for 1994, distributions totaled $1.47 per share. A recent stock quote is $22.125 per share and the shares are marginable. For additional information or a copy of the company's annual report, please contact Allied Capital's Investor Relations Investor relations The process by which the corporation communicates with its investors. Department at 202/973-6383, fax to 202/659-2053 or visit our world wide web site at www.alliedcapital.com. CONTACT: Allied Capital, Washington Suzanne Sparrow, 202/973-6326 |
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