WHITE PLAINS, N.Y., Nov. 9, 2010 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (NYSE:FSC) (the "Company") announced that its Board of Directors adopted an Amended and Restated Dividend Reinvestment Plan (the "Plan") on October 22, 2010. Amending the Plan allows the Company to provide a 5% discount on newly-issued shares purchased through the Plan (provided that shares will not be issued at less than net asset value per share). The Plan will be effective for all dividends paid by the Company after January 1, 2011.
"Aligning ourselves with the interests of our stockholders is an important goal for us," said Leonard M. Tannenbaum, the Company's Chief Executive Officer, adding that "we believe establishing a 5% DRIP discount program is an excellent way in which our stockholders can be rewarded for their loyalty and support by giving them an opportunity to accumulate additional shares in Fifth Street at a discount."
A copy of the Company's Plan was filed with the Securities and Exchange Commission as an exhibit to Form 8-K on October 28, 2010 and is accessible through the Company's website at .
About Fifth Street Finance Corp.
Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with investments by private equity sponsors. Fifth Street Finance Corp.'s investment objective is to maximize its portfolio's total return by generating current income from its debt investments and capital appreciation from its equity investments.
The Fifth Street Finance Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5525
Forward-Looking Statements
This press release may contain certain forward-looking statements, including statements with regard to the future performance of Fifth Street Finance Corp. Words such as "believes," "expects," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and these factors are identified from time to time in Fifth Street Finance Corp.'s filings with the Securities and Exchange Commission. Fifth Street Finance Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Fifth Street Finance Corp. Stacey Thorne, Executive Director, Investor Relations (914) 286-6811 stacey@fifthstreetcap.com