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Newtek Your Business Solutions Company ™ Newtek Business Services Corp. Reports Second Quarter 2021 Financial Results August 10 , 2021 Company Declares $ 0.90 per share 2021 Third Quarter Dividend ; Company has Paid and / or Declared $ 2.10 per share in Dividends for the First Three Quarters of 2021 ; a 32.9 % Increase Over the Same Period Last Year BOCA RATON , Fla . , Aug. 10 , 2021 ( GLOBE NEWSWIRE ) -- Newtek Business Services Corp. ( " Newtek " or the " Company " ) ( Nasdaq : NEWT ) , an internally managed business development company ( " BDC " ) , announced today its financial and operating results for the three and six months ended June 30 , 2021 . Second Quarter 2021 Financial Highlights • Total investment income of $ 36.6 million for the three months ended June 30 , 2021 ; a decrease of 21.6 % compared to total investment income of $ 46.7 million for the three months ended June 30 , 2020 . • Net investment income of $ 15.5 million , or $ 0.69 per share , for the three months ended J une 30 , 2021 ; a decrease of $ ( 0.73 ) per share compared to net investment income of $ 29.7 million , or $ 1.42 per share , for the three months ended June 30 , 2020 . ● Adjusted net investment income ( " ANII " ) ¹ of $ 27.0 million , or $ 1.20 per share , for the three months ended June 30 , 2021 ; a decrease of 12.4 % , on a per share basis , compared to ANII of $ 28.5 million , or $ 1.37 per share , for the three months ended June 30 , 2020 . • Debt - to - equity ratio of 1.24x at June 30 , 2021 ; proforma debt - to - equity ratio was 1.16x after taking into account the sales of government - guaranteed portions of SBA 7 ( a ) loans prior to June 30 , 2021 , which sales settled subsequent to the balance sheet date . • Total investment portfolio increased by 7.4 % to $ 696.1 million at June 30 , 2021 , from $ 648.4 million at June 30 , 2020 . • Net asset value ( " NAV " ) of $ 369.0 million , or $ 16.38 per share , at June 30 , 2021 ; an increase of 6.0 % , on a per share basis , compared to NAV of $ 15.45 per share at December 31 , 2020 . Six Months Ended June 30 , 2021 Financial Highlights • Total investment income of $ 71.3 million for the six months ended June 30 , 2021 ; an increase of 14.1 % over total investment income of $ 62.5 million for the six months ended June 30 , 2020 . • Net investment income of $ 30.7 million , or $ 1.37 per share , for the six months ended June 30 , 2021 , which represents a 4.4 % increase on a dollar basis , and a 3.5 % decrease , on a per share basis , compared to net investment income of $ 29.5 million , or $ 1.42 per share , for the three months ended June 30 , 2020 . • ANII of $ 50.5 million , or $ 2.25 per share , for the six months ended June 30 , 2021 ; an increase of 42.4 % , on a per share basis , compared to ANII of $ 32.8 million , or $ 1.58 per share , for the six months ended June 30 , 2020 . Subsequent Second Quarter 2021 Highlights • On August 2 , 2021 , the Company announced that it entered into an agreement to acquire National Bank of New York City ( " NBNYC " ) , a nationally chartered bank with approximately $ 204 million in total assets and $ 36.5 million in tier 1 capital ( each as of June 30 , 2021 ; does not reflect the impact of pre - closing dividends to selling NBNYC shareholders ) for $ 20 million in cash , subject to required approvals . 2021 Dividend Payments & Forecast • On August 10 , 2021 , the Company's board of directors declared a third quarter 2021 cash dividend of $ 0.90 per share² payable on September 30 , 2021 to shareholders of record as of September 20 , 2021 . • The third quarter 2021 dividend represents a 55.2 % increase over the third quarter 2020 dividend of $ 0.58 per share . . With the payment of the third quarter 2021 dividend , the Company will have paid $ 2.10 per share in dividends for the first three quarters of 2021 , which would represent a 32.9 % increase over dividends paid for the first three quarters of 2020 . • Newtek's current 2021 annual dividend forecast indicates a remaining dividend payment of $ 1.05 per share , at the midpoint of the 2021 annual dividend forecast range , subject to Company performance and board approval , which would represent a 123.4 % increase over the fourth quarter 2020 dividend of $ 0.47 per share . • The Company reaffirmed its 2021 annual dividend forecast range of $ 3.00 per share to $ 3.30 per share .