News Column

RCS Capital Corporation Announces Dividend for Second Quarter 2014

July 5, 2014

By a News Reporter-Staff News Editor at Investment Weekly News -- RCS Capital Corporation ("RCAP") (NYSE: RCAP) announced that on June 17, 2014, RCAP's board of directors authorized and RCAP declared a cash dividend for the second quarter of 2014 in an amount equal to $0.18 per share.

The quarterly dividend will be paid on July 10, 2014 to Class A common stockholders of record at the close of business on June 30, 2014. This cash dividend is consistent with the cash dividends previously declared and paid with respect to RCAP's four previous fiscal quarters.

As previously disclosed in RCAP's prospectus dated June 5, 2014 relating to RCAP's recently completed public offering of Class A common stock, pursuant to RCAP's debt covenants and consistent with RCAP's strategy for growth, RCAP also announced its board of directors has decided to discontinue future quarterly dividends.

"The discontinuance of the quarterly dividend, which is consistent with our previously discussed plans, will allow the company to retain additional capital which the company plans to use to support internal growth and accretive external growth opportunities, all of which we believe will drive future shareholder value," said William M. Kahane, Chief Executive Officer of RCAP.

Keywords for this news article include: Investment and Finance, RCS Capital Corporation.

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Source: Investment Weekly News

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