Shareholders' Equity and Dividends

9 Months Ended

Sep. 30, 2024

Shareholders' Equity and Dividends

Shareholders' Equity and Dividends

10. Shareholders’ Equity and Dividends

As of both September 30, 2024 and December 31, 2023, the Company had received $316,000 of equity commitments to purchase shares of the Company’s common stock. As of both September 30, 2024 and December 31, 2023, $229,100 (72.5% of total commitments), had been called.

Dividends and distributions to common shareholders are recorded on the ex-dividend date. Distributions are declared considering annual taxable income available for distribution to shareholders and the amount of taxable income carried over from the prior year for distribution in the current year.

The Company has adopted a dividend reinvestment plan that provides for reinvestment of all cash distributions declared by the Board of Directors, unless a shareholder elects to “opt out” of the plan. As a result, if the Board of Directors declares a cash distribution, then the shareholders who have not “opted out” of the dividend reinvestment plan will have their cash distributions automatically reinvested in additional shares of common stock, rather than receiving the cash distribution. The shares distributed by the Transfer Agent in the Company’s dividend reinvestment plan are through newly issued shares. The following tables summarize the Company’s dividends declared and paid for the nine months ended September 30, 2024 and 2023:

Date Declared	Record Date	Payment Date	Type	Amount Per Share		Total Amount
March 14, 2024	March 31, 2024	April 26, 2024	Regular	$	0.38	$	6,273
June 18, 2024	June 28, 2024	July 31, 2024	Regular		0.38		6,310
September 18, 2024	September 30, 2024	October 31, 2024	Regular		0.38		6,347
				$	1.14	$	18,930

Date Declared	Record Date	Payment Date	Type	Amount Per Share		Total Amount
March 13, 2023	March 31, 2023	April 28, 2023	Regular	$	0.38	$	4,857
June 15, 2023	June 30, 2023	July 27, 2023	Regular		0.38		5,458
September 19, 2023	September 30, 2023	October 27, 2023	Regular		0.38		5,487
				$	1.14	$	15,802