As noted in the Company's news release announcing the dividend for August, the actions by central banks to significantly raise interest rates has affected the business climate generally and has temporarily compressed our net interest margins. As contemplated in that news release, management and our directors conducted a thorough evaluation of our portfolio performance and various interest rate scenarios on our profitability and in September concluded that a temporary adjustment to our monthly dividend rate (from
Although it is expected that interest rates have peaked and that central banks may begin to decrease interest rates in 2024, management and our directors continue to evaluate portfolio performance, the general business climate and the importance of maintaining sufficient liquidity to not only comply with our financing facilities requirements but also to take advantage of growth and strategic opportunities should they be available. This may result in a determination in the near term to temporarily suspend dividends.
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