By MarketNewsVideo Anworth Mortgage Asset Corporation (ANH) maintained its quarterly dividend of 15 cents per share. The dividends is payable on April 29 to shareholders of record as of April 8. …read more
Source: FULL ARTICLE at Forbes Markets
Tag Archives: KED
Kayne Anderson Energy Development Company Increases Its Quarterly Distribution to $0.435 per Share f
By Business Wirevia The Motley Fool
Filed under: Investing
Kayne Anderson Energy Development Company Increases Its Quarterly Distribution to $0.435 per Share for Q1 2013 and Announces NAV of $24.88 per Share as of February 28, 2013
HOUSTON–(BUSINESS WIRE)– (NYS: KED) Kayne Anderson Energy Development Company (the “Company” or “KED“) announced today its quarterly distribution of $0.435 per share for the quarter ended February 28, 2013. This represents an increase of 11.5% from the distribution for the quarter ended February 29, 2012.
The Company also announced today its unaudited net asset value (NAV) of $259.2 million or $24.88 per share as of February 28, 2013.
The distribution will be payable on April 26, 2013 to common stockholders of record on April 19, 2013, with an ex-dividend date of April 17, 2013. It is anticipated that none of this distribution will be treated as a return of capital for tax purposes. The final determination of such amount will be made in early 2014 when the Company can determine its earnings and profits. The final tax status of the distribution may differ substantially from this preliminary information.
The Company is a non-diversified, closed-end investment company registered under the Investment Company Act of 1940. The Company’s investment objective is to generate both current income and capital appreciation primarily through equity and debt investments. The Company will seek to achieve this objective by investing at least 80% of its net assets together with the proceeds of any borrowings (its “total assets”) in securities of companies that derive the majority of their revenue from activities in the energy industry, including: (a) Midstream Energy Companies, which are businesses that operate assets used to gather, transport, process, treat, terminal and store natural gas, natural gas liquids, propane, crude oil or refined petroleum products; (b) Upstream Energy Companies, which are businesses engaged in the exploration, extraction and production of natural resources, including natural gas, natural gas liquids and crude oil, from onshore and offshore geological reservoirs; and (c) Other Energy Companies, which are businesses engaged in owning, leasing, managing, producing, processing and sale of coal and coal reserves; the marine transportation of crude oil, refined petroleum products, liquefied natural gas, as well as other energy-related natural resources using tank vessels and bulk carriers; and refining, marketing and distributing refined energy products, such as motor gasoline and propane to retail customers and industrial end-users.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains “forward-looking statements” as defined …read more
Source: FULL ARTICLE at DailyFinance
Kayne Anderson Energy Development Company Increases Size of Revolving Credit Facility to $95 Million
By Business Wirevia The Motley Fool
Filed under: Investing
Kayne Anderson Energy Development Company Increases Size of Revolving Credit Facility to $95 Million
HOUSTON–(BUSINESS WIRE)– Kayne Anderson Energy Development Company (NYS: KED) (the “Company” or “KED“) announced today that it amended its secured revolving credit facility (the “Credit Facility“) to increase the total commitment amount from $85 million to $95 million. This $10 million increase in commitment amount was accomplished by adding a new lender to the syndicate.
All other terms of the Credit Facility remain the same. The maturity date is March 30, 2014, and outstanding loan balances accrue interest daily at a rate equal to LIBOR plus 2.00%, based on the current borrowings and the current borrowing base. If borrowings exceed the borrowing base attributable to “quoted” securities (generally defined as equity investments in public MLPs and investments in bank debt and high yield bonds which are traded), the interest rate will increase to LIBOR plus 3.00%. The Company pays a fee of 0.50% on any unused amounts of the Credit Facility.
As of March 11, 2013, the Company had $68 million in borrowings outstanding under the Credit Facility.
A copy of the amended credit agreement is available on the Company’s website at www.kaynefunds.com/ked/other-material-documents.
The Company is a non-diversified, closed-end investment company registered under the Investment Company Act of 1940. The Company’s investment objective is to generate both current income and capital appreciation primarily through equity and debt investments. The Company will seek to achieve this objective by investing at least 80% of its net assets together with the proceeds of any borrowings (its “total assets”) in securities of companies that derive the majority of their revenue from activities in the energy industry, including: (a) Midstream Energy Companies, which are businesses that operate assets used to gather, transport, process, treat, terminal and store natural gas, natural gas liquids, propane, crude oil or refined petroleum products; (b) Upstream Energy Companies, which are businesses engaged in the exploration, extraction and production of natural resources, including natural gas, natural gas liquids and crude oil, from onshore and offshore geological reservoirs; and (c) Other Energy Companies, which are businesses engaged in owning, leasing, managing, producing, processing and sale of coal and coal reserves; the marine transportation of crude oil, refined petroleum products, liquefied natural gas, as well as other energy-related natural resources using tank vessels and bulk carriers; and refining, marketing and distributing refined energy products, such as motor gasoline and propane to retail customers and industrial end-users.