| Dividend |
Note 13. Dividend
We have distributed or intend to distribute sufficient
dividends to eliminate our U.S. federal taxable income for our completed tax years. If we fail to satisfy the 90% distribution requirement
or otherwise fail to qualify as a RIC in any tax year, we would be subject to U.S. federal income tax in that year imposed at corporate
rates on all of our taxable income, regardless of whether we made any distributions to our shareholders. Shareholders have the option
to receive payment of the dividend in cash, or receive shares of common stock. Our distributions for the tax years ended February 28,
2027 to inception were as follows:
| Payment date | |
Cash
Dividend | |
| Tax Year Ended February 28, 2027 | |
| |
| April 23, 2026 | |
$ | 0.25 | (62) |
| March 19, 2026 | |
| 0.25 | (61) |
| | |
$ | 0.50 | |
| Tax Year Ended February 28, 2026 | |
| | |
| February 23, 2026 | |
| 0.25 | (60) |
| January 26, 2026 | |
| 0.25 | (59) |
| December 18, 2025 | |
| 0.50 | (58) |
| November 20, 2025 | |
| 0.25 | (57) |
| October 23, 2025 | |
| 0.25 | (56) |
| September 24, 2025 | |
| 0.25 | (55) |
| August 21, 2025 | |
| 0.25 | (54) |
| July 24, 2025 | |
| 0.25 | (53) |
| June 24, 2025 | |
| 0.25 | (52) |
| May 22, 2025 | |
| 0.25 | (51) |
| April 24, 2025 | |
| 0.25 | (50) |
| March 25, 2025 | |
| 0.74 | (49) |
| | |
$ | 3.74 | |
| Tax Year Ended February 28, 2025 | |
| | |
| December 19, 2024 | |
$ | 1.09 | (48) |
| September 26, 2024 | |
| 0.74 | (46) |
| June 27, 2024 | |
| 0.74 | (46) |
| March 28, 2024 | |
| 0.73 | (45) |
| | |
$ | 3.30 | |
| Tax Year Ended February 29, 2024 | |
| | |
| December 28, 2023 | |
$ | 0.72 | (44) |
| September 28, 2023 | |
| 0.71 | (43) |
| June 29, 2023 | |
| 0.70 | (42) |
| March 30, 2023 | |
| 0.69 | (1) |
| | |
$ | 2.82 | |
| Payment
date |
|
Cash
Dividend |
|
| Tax Year Ended February 28, 2023 | |
| | |
| January 4, 2023 | |
$ | 0.68 | (2) |
| September 29, 2022 | |
| 0.54 | (3) |
| June 29, 2022 | |
| 0.53 | (4) |
| March 28, 2022 | |
| 0.53 | (5) |
| | |
$ | 2.28 | |
| Tax Year Ended February 28, 2022 | |
| | |
| January 19, 2022 | |
$ | 0.53 | (6) |
| September 28, 2021 | |
| 0.52 | (7) |
| June 29, 2021 | |
| 0.44 | (8) |
| April 22, 2021 | |
| 0.43 | (9) |
| | |
$ | 1.92 | |
| Tax Year Ended February 28, 2021 | |
| | |
| February 10, 2021 | |
$ | 0.42 | (10) |
| November 10, 2020 | |
| 0.41 | (11) |
| August 12, 2020 | |
| 0.40 | (12) |
| | |
$ | 1.23 | |
| Tax Year Ended February 29, 2020 | |
| | |
| February 6, 2020 | |
$ | 0.56 | (13) |
| September 26, 2019 | |
| 0.56 | (14) |
| June 27, 2019 | |
| 0.55 | (15) |
| March 28, 2019 | |
| 0.54 | (16) |
| | |
$ | 2.21 | |
| Tax Year Ended February 28, 2019 |
|
|
|
|
| January 2, 2019 |
|
$ |
0.53 |
(17) |
| September 27, 2018 |
|
|
0.52 |
(18) |
| June 27, 2018 |
|
|
0.51 |
(19) |
| March 26, 2018 |
|
|
0.50 |
(20) |
| |
|
$ |
2.06 |
|
| Tax Year Ended February 28, 2018 |
|
|
|
|
| December 27, 2017 |
|
$ |
0.49 |
(21) |
| September 26, 2017 |
|
|
0.48 |
(22) |
| June 27, 2017 |
|
|
0.47 |
(23) |
| March 28, 2017 |
|
|
0.46 |
(24) |
| |
|
$ |
1.90 |
|
| Tax Year Ended February 28, 2017 |
|
|
|
|
| February 9, 2017 |
|
$ |
0.45 |
(25) |
| November 9, 2016 |
|
|
0.44 |
(26) |
| September 5, 2016 |
|
|
0.20 |
(27) |
| August 9, 2016 |
|
|
0.43 |
(28) |
| April 27, 2016 |
|
|
0.41 |
(29) |
| |
|
$ |
1.93 |
|
| Payment
date |
|
Cash
Dividend |
|
| Tax Year Ended February 29, 2016 |
|
|
|
|
| February 29, 2016 |
|
$ |
0.40 |
(30) |
| November 30, 2015 |
|
|
0.36 |
(31) |
| August 31, 2015 |
|
|
0.33 |
(32) |
| June 5, 2015 |
|
|
1.00 |
(33) |
| May 29. 2015 |
|
|
0.27 |
(34) |
| |
|
$ |
2.36 |
|
| Tax Year Ended February 28, 2015 |
|
|
|
|
| February 27, 2015 |
|
$ |
0.22 |
(35) |
| November 28, 2014 |
|
|
0.18 |
(36) |
| |
|
$ |
0.40 |
|
| Tax Year Ended February 28. 2014 |
|
|
|
|
| December 27, 2013 |
|
$ |
2.65 |
(37) |
| |
|
$ |
2.65 |
|
| Tax Year Ended February 28, 2013 |
|
|
|
|
| December 31, 2012 |
|
$ |
4.25 |
(38) |
| |
|
$ |
4.25 |
|
| Tax Year Ended February 29, 2012 |
|
|
|
|
| December 30, 2011 |
|
$ |
3.00 |
(39) |
| |
|
$ |
3.00 |
|
| Tax Year Ended February 28, 2011 |
|
|
|
|
| December 29, 2010 |
|
$ |
4.40 |
(40) |
| |
|
$ |
4.40 |
|
| Tax Year Ended February 28, 2010 |
|
|
|
|
| December 31, 2009 |
|
$ |
18.25 |
(41) |
| |
|
$ |
18.25 |
|
| (1) | Based on shareholder elections, the dividend consisted of approximately $7.1 million in cash and 45,818 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $23.11 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on March 17, 20, 21, 22, 23, 24, 27, 28, 29, and 30, 2023. | | | | | (2) | Based on shareholder elections, the dividend consisted of approximately $6.8 million in cash and 53,615 newly issued shares of common stock, or 0.5% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $24.26 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on December 20, 21, 22, 23, 27, 28, 29 and 30 2022 and January 3 and 4, 2023. | | (3) | Based on shareholder elections, the dividend consisted of approximately $5.3 million in cash and 52,312 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $22.00 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on September 16, 19, 20, 21, 22, 23, 26, 27, 28 and 29, 2022. | | | | | (4) | Based on shareholder elections, the dividend consisted of approximately $5.1 million in cash and 48,590 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $22.40 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on June 15, 16, 17, 21, 22, 23, 24, 27, 28 and 29, 2022. | | | | | (5) | Based on shareholder elections, the dividend consisted of approximately $5.3 million in cash and 42,825 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $25.89 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on March 15, 16, 17, 18, 21, 22, 23, 24, 25 and 28, 2022. |
| (6) | Based on shareholder elections, the dividend consisted of approximately $5.3 million in cash and 41,520 newly issued shares of common stock, or 0.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $26.85 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on January 5, 6, 7, 10, 11, 12, 13, 14, 18 and 19, 2022. | | | | | (7) | Based on shareholder elections, the dividend consisted of approximately $4.9 million in cash and 38,016 newly issued shares of common stock, or 0.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $26.77 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on September 15, 16, 17, 20, 21, 22, 23, 24, 27 and 28, 2021. | | | | | (8) | Based on shareholder elections, the dividend consisted of approximately $4.1 million in cash and 33,100 newly issued shares of common stock, or 0.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $25.03 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on June 16, 17, 18, 21, 22, 23, 24, 25, 28 and 29, 2021. | | | | | (9) | Based on shareholder elections, the dividend consisted of approximately $3.9 million in cash and 38,580 newly issued shares of common stock, or 0.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $23.69 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on April 9,12, 13, 14, 15, 16, 19, 20, 21 and 22, 2021. | | | | | (10) | Based on shareholder elections, the dividend consisted of approximately $3.8 million in cash and 41,388 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $21.75 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on January 28, 29 and February 1, 2, 3, 4, 5, 8, 9 and 10, 2021. |
| (11) | Based on shareholder elections, the dividend consisted of approximately $3.8 million in cash and 45,706 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $17.63 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on October 28, 29, 30 and November 2, 3, 4, 5, 6, 9 and 10, 2020. | | | | | (12) | Based on shareholder elections, the dividend consisted of approximately $3.7 million in cash and 47,098 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $16.45 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on July 30, 31 and August 3, 4, 5, 6, 7, 10, 11 and 12, 2020. |
| (13) | Based on shareholder elections, the dividend consisted of approximately $5.4 million in cash and 35,682 newly issued shares of common stock, or 0.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $25.44 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on January 24, 27, 28, 29, 30, 31 and February 3, 4, 5 and 6, 2020. | | | | | (14) | Based on shareholder elections, the dividend consisted of approximately $4.5 million in cash and 34,575 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $23.34 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on September 13, 16, 17, 18, 19, 20, 23, 24, 25 and 26, 2019. | | | | | (15) | Based on shareholder elections, the dividend consisted of approximately $3.6 million in cash and 31,545 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $22.65 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on June 14, 17, 18, 19, 20, 21, 24, 25, 26 and 27, 2019. |
| (16) | Based on shareholder elections, the dividend consisted of approximately $3.5 million in cash and 31,240 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $21.36 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on March 15, 18, 19, 20, 21, 22, 25, 26, 27 and 28, 2019. | | | | | (17) | Based on shareholder elections, the dividend consisted of approximately $3.4 million in cash and 30,796 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $18.88 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on December 18, 19, 20, 21, 24, 26, 27, 28, 31, 2018 and January 2, 2019. | | | | | (18) | Based on shareholder elections, the dividend consisted of approximately $3.3 million in cash and 25,862 newly issued shares of common stock, or 0.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $22.35 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on September 14, 17, 18, 19, 20, 21, 24, 25, 26 and 27, 2018. | | | | | (19) | Based on shareholder elections, the dividend consisted of approximately $2.7 million in cash and 21,562 newly issued shares of common stock, or 0.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $23.72 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on June 14, 15, 18, 19, 20, 21, 22, 25, 26 and 27, 2018. | | | | | (20) | Based on shareholder elections, the dividend consisted of approximately $2.6 million in cash and 25,354 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $19.91 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on March 13, 14, 15, 16, 19, 20, 21, 22, 23 and 26, 2018. | | | | | (21) | Based on shareholder elections, the dividend consisted of approximately $2.5 million in cash and 25,435 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $21.14 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on December 13, 14, 15, 18, 19, 20, 21, 22, 26 and 27, 2017. |
| (22) | Based on shareholder elections, the dividend consisted of approximately $2.2 million in cash and 33,551 newly issued shares of common stock, or 0.6% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $20.19 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on September 13, 14, 15, 18, 19, 20, 21, 22, 25 and 26, 2017. | | | | | (23) | Based on shareholder elections, the dividend consisted of approximately $2.3 million in cash and 26,222 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $20.04 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on June 14, 15, 16, 19, 20, 21, 22, 23, 26 and 27, 2017. |
| (24) | Based on shareholder elections, the dividend consisted of approximately $2.0 million in cash and 29,096 newly issued shares of common stock, or 0.5% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $21.38 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on March 15, 16, 17, 20, 21, 22, 23, 24, 27 and 28, 2017. | | | | | (25) | Based on shareholder elections, the dividend consisted of approximately $1.6 million in cash and 50,453 newly issued shares of common stock, or 0.9% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $20.25 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on January 27, 30, 31 and February 1, 2, 3, 6, 7, 8 and 9, 2017. |
| (26) | Based on shareholder elections, the dividend consisted of approximately $1.5 million in cash and 58,548 newly issued shares of common stock, or 1.0% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $17.12 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on October 27, 28, 31 and November 1, 2, 3, 4, 7, 8 and 9, 2016. | | | | | (27) | Based on shareholder elections, the dividend consisted of approximately $0.7 million in cash and 24,786 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $17.06 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on August 22, 23, 24, 25, 26, 29, 30, 31 and September 1 and 2, 2016. | | | | | (28) | Based on shareholder elections, the dividend consisted of approximately $1.5 million in cash and 58,167 newly issued shares of common stock, or 1.0% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $16.32 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on July 27, 28, 29 and August 1, 2, 3, 4, 5, 8 and 9, 2016. | | | | | (29) | Based on shareholder elections, the dividend consisted of approximately $1.5 million in cash and 56,728 newly issued shares of common stock, or 1.0% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $15.43 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on April 14, 15, 18, 19, 20, 21, 22, 25, 26 and 27, 2016. | | | | | (30) | Based on shareholder elections, the dividend consisted of approximately $1.4 million in cash and 66,765 newly issued shares of common stock, or 1.2% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $13.11 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on February 16, 17, 18, 19, 22, 23, 24, 25, 26 and 29, 2016. | | | | | (31) | Based on shareholder elections, the dividend consisted of approximately $1.1 million in cash and 61,029 newly issued shares of common stock, or 1.1% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $14.53 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on November 16, 17, 18, 19, 20, 23, 24, 25, 27 and 30, 2015. | | | | | (32) | Based on shareholder elections, the dividend consisted of approximately $1.1 million in cash and 47,861 newly issued shares of common stock, or 0.9% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $15.28 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on August 18, 19, 20, 21, 24, 25, 26, 27, 28 and 31, 2015. |
| (33) | Based on shareholder elections, the dividend consisted of approximately $3.4 million in cash and 126,230 newly issued shares of common stock, or 2.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $16.47 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on May 22, 26, 27, 28, 29 and June 1, 2, 3, 4, and 5, 2015. | | | | | (34) | Based on shareholder elections, the dividend consisted of approximately $0.9 million in cash and 33,766 newly issued shares of common stock, or 0.6% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $16.78 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on May 15, 18, 19, 20, 21, 22, 26, 27, 28 and 29, 2015. |
| (35) | Based on shareholder elections, the dividend consisted of approximately $0.8 million in cash and 26,858 newly issued shares of common stock, or 0.5% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $14.97 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on February 13, 17, 18, 19, 20, 23, 24, 25, 26 and 27, 2015. |
| (36) | Based on shareholder elections, the dividend consisted of approximately $0.6 million in cash and 22,283 newly issued shares of common stock, or 0.4% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $14.37 per share, which equaled 95.0% of the volume weighted average trading price per share of the common stock on November 14, 17, 18, 19, 20, 21, 24, 25, 26 and 28, 2014. | | | | | (37) | Based on shareholder elections, the dividend consisted of approximately $2.5 million in cash and 649,500 shares of common stock, or 13.7% of our outstanding common stock prior to the dividend payment. The amount of cash elected to be received was greater than the cash limit of 20.0% of the aggregate dividend amount, thus resulting in the payment of a combination of cash and stock to shareholders who elected to receive cash. The number of shares of common stock comprising the stock portion was calculated based on a price of $15.439 per share, which equaled the volume weighted average trading price per share of the common stock on December 11, 13 and 16, 2013. | | | | | (38) | Based on shareholder elections, the dividend consisted of $3.3 million in cash and 853,455 shares of common stock, or 22.0% of our outstanding common stock prior to the dividend payment. The amount of cash elected to be received was greater than the cash limit of 20.0% of the aggregate dividend amount, thus resulting in the payment of a combination of cash and stock to shareholders who elected to receive cash. The number of shares of common stock comprising the stock portion was calculated based on a price of $15.444 per share, which equaled the volume weighted average trading price per share of the common stock on December 14, 17 and 19, 2012. | | | | | (39) | Based on shareholder elections, the dividend consisted of $2.0 million in cash and 599,584 shares of common stock, or 18.0% of our outstanding common stock prior to the dividend payment. The amount of cash elected to be received was greater than the cash limit of 20.0% of the aggregate dividend amount, thus resulting in the payment of a combination of cash and stock to shareholders who elected to receive cash. The number of shares of common stock comprising the stock portion was calculated based on a price of $13.117067 per share, which equaled the volume weighted average trading price per share of the common stock on December 20, 21 and 22, 2011. | | | | | (40) | Based on shareholder elections, the dividend consisted of $1.2 million in cash and 596,235 shares of common stock, or 22.0% of our outstanding common stock prior to the dividend payment. The amount of cash elected to be received was greater than the cash limit of 10.0% of the aggregate dividend amount, thus resulting in the payment of a combination of cash and stock to shareholders who elected to receive cash. The number of shares of common stock comprising the stock portion was calculated based on a price of $17.8049 per share, which equaled the volume weighted average trading price per share of the common stock on December 20, 21 and 22, 2010. | | | | | (41) | Based on shareholder elections, the dividend consisted of $2.1 million in cash and 864,872 shares of common stock, or 104.0% of our outstanding common stock prior to the dividend payment. The amount of cash elected to be received was greater than the cash limit of 13.7% of the aggregate dividend amount, thus resulting in the payment of a combination of cash and stock to shareholders who elected to receive cash. The number of shares of common stock comprising the stock portion was calculated based on a price of $1.5099 per share, which equaled the volume weighted average trading price per share of the common stock on December 24 and 28, 2009. | | | | | (42) | Based on shareholder elections, the dividend consisted of approximately $7.6 million in cash and 29,627 newly issued shares of common stock, or 0.2% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $25.29 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on June 15, 16, 20, 21, 22, 23, 26, 27, 28, and 29, 2023. |
| (43) | Based on shareholder elections, the dividend consisted of approximately $8.4 million in cash and 35,196 newly issued shares of common stock, or 0.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $24.41 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on September 15, 18, 19, 20, 21, 22, 25, 26, 27, and 28, 2023. | | | | | (44) | Based on shareholder elections, the dividend consisted of approximately $8.9 million in cash and 37,394 newly issued shares of common stock, or 0.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $24.47 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on December 14, 15, 18, 19, 20, 21, 22, 26, 27, and 28, 2023. |
| (45) | Based on shareholder elections, the dividend consisted of approximately $9.0 million in cash and 45,490 newly issued shares of common stock, or 0.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $22.85 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on March 15, 18, 19, 20, 21, 22, 25, 26, 27, and 28, 2024. | | | | | (46) | Based on shareholder elections, the dividend consisted of approximately $9.1 million in cash and 46,803 newly issued shares of common stock, or 10.0% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $21.76 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on June 13, 14, 17, 18, 20, 21, 24, 25, 26, and 27, 2024. | | | | | (47) | Based on shareholder elections, the dividend consisted of approximately $9.0 million in cash and 54,999 newly issued shares of common stock, or 10.0% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $22.08 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on September 13, 16, 17, 18, 19, 20, 23, 24, 25, and 26, 2024. | | | | | (48) | Based on shareholder elections, the dividend consisted of approximately $13.7 million in cash and 81,471 newly issued shares of common stock, or 11.9% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $22.80 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on December 6, 9, 10, 11, 12, 13, 16, 17, 18, and 19, 2024. | | | | | (49) | Based on shareholder elections, the dividend consisted of approximately $9.9 million in cash and 60,611 newly issued shares of common stock, or 12.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $22.96 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on March 12, 13, 14, 17, 18, 19, 20, 21, 24, and 25, 2025. | | | | | (50) | Based on shareholder elections, the dividend consisted of approximately $3.4 million in cash and 20,086 newly issued shares of common stock, or 11.5% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $22.02 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on April 10, 11, 14, 15, 16, 17, 21, 22, 23, and 24, 2025. | | | | | (51) | Based on shareholder elections, the dividend consisted of approximately $3.4 million in cash and 20,784 newly issued shares of common stock, or 12.5% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $23.02 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on May 9, 12, 13, 14, 15, 16, 19, 20, 21, and 22, 2025. |
| (52) | Based on shareholder elections, the dividend consisted of approximately $3.4 million in cash and 19,750 newly issued shares of common stock, or 11.7% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $23.09 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on June 10, 11, 12, 13, 16, 17, 18, 20, 23, and 24, 2025. | | | | | (53) | Based on shareholder elections, the dividend consisted of approximately $3.5 million in cash and 17,443 newly issued shares of common stock, or 10.6% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $23.86 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on July 11, 14, 15, 16, 17, 18, 21, 22, 23 and 24, 2025. | | (54) | Based on shareholder elections, the dividend consisted of approximately $3.6 million in cash and 17,320 newly issued shares of common stock, or 10.5% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $24.11 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on August 8, 11, 12, 13, 14, 15, 18, 19, 20 and 21, 2025. | | | | | (55) | Based on shareholder elections, the dividend consisted of approximately $3.6 million in cash and 17,673 newly issued shares of common stock, or 10.3% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $23.32 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on September 11, 12, 15, 16, 17, 18, 19, 22, 23 and 24, 2025. | | | | | (56) | Based on shareholder elections, the dividend consisted of approximately $3.6 million in cash and 20,898 newly issued shares of common stock, or 10.9% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $20.97 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on October 10, 13, 14, 15, 16, 17, 20, 21, 22, and 23, 2025. | | | | | (57) | Based on shareholder elections, the dividend consisted of approximately $3.6 million in cash and 20,552 newly issued shares of common stock, or 10.7% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $20.99 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on November 7, 10, 11, 12, 13, 14, 17, 18, 19, and 20, 2025. | | | | | (58) | Based on shareholder elections, the dividend consisted of approximately $7.2 million in cash and 41,155 newly issued shares of common stock, or 11.1% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $21.85 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on December 5, 8, 9, 10, 11, 12, 15, 16, 17, and 18, 2025. | | | | | (59) | Based on shareholder elections, the dividend consisted of approximately $3.6 million in cash and 20,092 newly issued shares of common stock, or 11.0% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $22.12 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on January 8, 9, 12, 13, 14, 15, 16, 20, 21, and 22, 2026. | | | | | (60) | Based on shareholder elections, the dividend consisted of approximately $3.6 million in cash and 20,049 newly issued shares of common stock, or 10.9% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $22.07 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on February 9, 10, 11, 12, 13, 17, 18, 19, 20, and 23, 2026. | | | | | (61) | Based on shareholder elections, the dividend consisted of approximately $3.6 million in cash and 20,766 newly issued shares of common stock, or 11.0% of our outstanding common stock prior to the dividend payment. The number of shares of common stock comprising the stock portion was calculated based on a price of $21.45 per share, which equaled 95% of the volume weighted average trading price per share of the common stock on March 6, 9, 10, 11, 12, 13, 16, 17, 18, and 19, 2026. | | | | | (62) | Based on shareholder elections, the dividend consisted of approximately
$3.6 million in cash and 22,784 newly issued shares of common stock, or 12.2% of our outstanding common stock prior to the dividend payment.
The number of shares of common stock comprising the stock portion was calculated based on a price of $21.71 per share, which equaled 95%
of the volume weighted average trading price per share of the common stock on April 10, 13, 14, 15, 16, 17, 20, 21, 22, and 23, 2026. | The following tables summarize dividends declared for the years ended February 28, 2026, February
28, 2025, February 29, 2024, February 28, 2023 and February 28, 2022 (dollars in thousands except for share amounts):
| Date Declared | | Record Date | | Payment Date | | Amount
per Share | | | Total
Amount* | | | December 11, 2025 | | February 4, 2026 | | February 23, 2026 | | $ | 0.25 | | | $ | 4,051 | | | December 11, 2025 | | January 6, 2026 | | January 22, 2026 | | | 0.25 | | | | 4,046 | | | November 12, 2025 | | December 2, 2025 | | December 18, 2025 | | | 0.50 | | | | 8,073 | | | September 11, 2025 | | October 7, 2025 | | October 23, 2025 | | | 0.25 | | | | 4,026 | | | September 11, 2025 | | November 4, 2025 | | November 20, 2025 | | | 0.25 | | | | 4,031 | | | June 12, 2025 | | July 8, 2025 | | July 24,2025 | | | 0.25 | | | | 3,917 | | | June 12, 2025 | | August 6, 2025 | | August 21, 2025 | | | 0.25 | | | | 3,988 | | | June 12, 2025 | | September 4, 2025 | | September 24, 2025 | | | 0.25 | | | | 4,022 | |
| Total dividends declared | | | | | | $ | 2.25 | | | $ | 36,154 | |
| Date Declared | | Record Date | | Payment Date | | Amount
per Share | | | Total
Amount* | |
| February 18, 2025 | | March 6, 2025 | | March 25, 2025 | | $ | 0.74 | | | $ | 11,303 | | | February 18, 2025 | | April 8, 2025 | | April 24, 2025 | | | 0.25 | | | | 3,836 | | | February 18, 2025 | | May 6, 2025 | | May 22, 2025 | | | 0.25 | | | | 3,841 | | | February 18, 2025 | | June 5, 2025 | | June 24, 2025 | | | 0.25 | | | | 3,892 | | | November 7, 2024 | | December 4, 2024 | | December 19, 2024 | | | 1.09 | | | | 15,549 | | | August 22, 2024 | | September 11, 2024 | | September 26, 2024 | | | 0.74 | | | | 10,172 | | | May 23, 2024 | | June 13, 2024 | | June 27, 2024 | | | 0.74 | | | | 10,137 | | | Total dividends declared | | | | | | $ | 4.06 | | | $ | 58,730 | |
| Date Declared | | Record Date | | Payment Date | | Amount
per Share | | | Total
Amount* | | | February 15, 2024 | | March 13, 2024 | | March 28, 2024 | | $ | 0.73 | | | $ | 9,967 | | | November 15, 2023 | | December 11, 2023 | | December 28, 2023 | | | 0.72 | | | | 9,803 | | | August 14, 2023 | | September 14, 2023 | | September 28, 2023 | | | 0.71 | | | | 9,287 | | | May 22, 2023 | | June 13, 2023 | | June 29, 2023 | | | 0.70 | | | | 8,352 | | | Total dividends declared | | | | | | $ | 2.86 | | | $ | 37,409 | |
| Date Declared | | Record Date | | Payment Date | | Amount
per Share | | | Total
Amount* | | | February 28, 2023 | | March 14, 2023 | | March 28, 2023 | | $ | 0.69 | | | $ | 8,193 | | | November 15, 2022 | | December 15, 2022 | | January 4, 2023 | | | 0.68 | | | | 8,081 | | | August 29, 2022 | | September 14, 2022 | | September 29, 2022 | | | 0.54 | | | | 6,433 | | | May 26, 2022 | | June 14, 2022 | | June 29, 2022 | | | 0.53 | | | | 6,370 | | | Total dividends declared | | | | | | $ | 2.44 | | | $ | 29,077 | |
| Date Declared | | Record Date | | Payment Date | | Amount
per Share | | | Total
Amount* | | | February 24, 2022 | | March 14, 2022 | | March 28, 2022 | | $ | 0.53 | | | $ | 6,434 | | | August 26, 2021 | | September 14, 2021 | | September 28, 2021 | | | 0.52 | | | | 5,889 | | | May 27, 2021 | | June 15, 2021 | | June 29, 2021 | | | 0.44 | | | | 4,910 | | | March 22, 2021 | | April 8, 2021 | | April 22, 2021 | | | 0.43 | | | | 4,799 | | | Total dividends declared | | | | | | $ | 1.92 | | | $ | 22,032 | |
| * | Total amount is calculated based on the number of shares outstanding at the date of record. |
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