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KCAP Financial board lowers quarterly distribution

KCAP Financial Inc.'s board of directors approved a quarterly cash distribution of 12 cents per share of common stock for the fourth quarter of 2016, down from the previous payout of 15 cents per share.

The amount is payable Jan. 27, 2017, to shareholders of record as of Jan. 6, 2017.

The board decreased the quarterly cash distribution in December 2015 as well.