MVC Capital, Inc. (MVC) to Issue Quarterly Dividend of $0.15
MVC Capital, Inc. (NYSE:MVC) declared a quarterly dividend on Tuesday, October 10th, Wall Street Journal reports. Shareholders of record on Tuesday, October 24th will be given a dividend of 0.15 per share by the investment management company on Tuesday, October 31st. This represents a $0.60 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date is Monday, October 23rd. This is a positive change from MVC Capital’s previous quarterly dividend of $0.14.
MVC Capital (MVC) traded up 1.47% on Tuesday, reaching $10.34. 86,025 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $10.10 and its 200-day moving average is $9.65. MVC Capital has a 12 month low of $8.22 and a 12 month high of $10.47.
MVC Capital announced that its Board of Directors has authorized a stock repurchase program on Friday, July 21st that allows the company to repurchase $15.00 million in shares. This repurchase authorization allows the investment management company to buy shares of its stock through a dutch auction. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
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MVC Capital Company Profile
MVC Capital, Inc is a non-diversified closed-end management investment company. The Company’s investment objective is to seek to maximize total return from capital appreciation and/or income. The Company’s segments are its investing operations as a business development company, which includes MVC Cayman and MVC Turf, LLC and MVC Financial Services, Inc (MVCFS).
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