Siena Lending Group Closes Credit Facility With Wells Fargo Capital Finance
Credit: Reuters/Yorgos Karahalis ATHENS | Fri Aug 9, 2013 7:39am BST ATHENS (Reuters) – The euro zone needs a common debt market to exit the crisis, Greece’s finance minister Yannis Stournaras said on Friday. “The euro zone must deal with its main problems,” Stournaras said. “A banking union… an economic policy which combines fiscal consolidation and growth, not all countries can impose austerity …
Reminder – Fifth Street Finance (FSC) Goes Ex-Dividend Soon
As a percentage of FSCs recent stock price of $10.77, this dividend works out to approximately 0.89%, so look for shares of Fifth Street Finance Corporation to trade 0.89% lower all else being equal when FSC shares open for trading on 8/13/13. Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen or click here to find out which 9 other stocks going ex-dividend you should know about, at DividendChannel.com Below is a dividend history chart for FSC, showing historical dividends prior to the most recent $0.0958 declared by Fifth Street Finance Corporation: In general, dividends are not always predictable; but looking at the history above can help in judging whether the most recent dividend from FSC is likely to continue, and whether the current estimated yield of 10.67% on annualized basis is a reasonable expectation of annual yield going forward. The chart below shows the one year performance of FSC shares, versus its 200 day moving average: Looking at the chart above, FSCs low point in its 52 week range is $9.66 per share, with $11.13 as the 52 week high point that compares with a last trade of $10.79.
“Our longstanding relationship with Wells Fargo coupled with its market dominance in the lender finance sector make Wells Fargo the perfect financing partner for Siena,” said Michael Carrazza, CEO of Solaia Capital and Siena’s Chairman. “Securing this attractive credit financing speaks of the strength of Siena’s platform and growth opportunities.” Siena’s hybrid business model targets a widening gap between community banks and commercial business lending. In addition to providing direct financing to businesses, Siena offers turn-key origination and servicing capabilities for participating community banks that are seeking exposure in the asset-based lending market. Siena provides community bank partners the ability to acquire high quality, variable rate, low risk, economically attractive loans without direct cost or increased SG&A.