Harvest Capital Credit Corporation Declares Dividends for January, February and March

NEW YORK–(BUSINESS WIRE)–Harvest Capital Credit Corporation (the “Company”) (NASDAQ: HCAP)
announced that its Board of Directors has declared dividends of $0.08
per share for the months of January, February and March 2019. The
January dividend is payable on March 7, 2019 to shareholders of record
on February 28, 2019. The February dividend is payable on March 28, 2019
to shareholders of record on March 21, 2019. The March dividend is
payable on April 25, 2019 to shareholders of record on April 18, 2019.
The Company’s distributions may include a return of capital to
shareholders to the extent that the Company’s net investment income and
net capital gains are insufficient to support the distributions.
Distributions that are treated for tax purposes as a return of capital
will reduce each shareholder’s basis in his, her or its shares. Returns
of shareholder capital also have the effect of reducing the Company’s
assets.

Our board of directors decided to lower our monthly dividend from
$0.095 per share to $0.08 per share due to the continuation of a very
competitive investment environment,” declared Joseph A. Jolson, Chairman
and CEO. “We are very active in originating new deals but have had an
unusually high rate of deals that have not closed. That, coupled with
continued high payoffs have put us in a net cash position to start the
year, making our first quarter of 2019 earnings outlook well below our
current dividend rate,” continued Mr. Jolson. “The new dividend rate of
$0.08 per month is achievable if we are successful in deploying capital
as 2019 progresses. As of today, we have repurchased 87,500 shares in
open market transactions and had an additional 162,500 shares remaining
on our current share repurchase authorization through June 2019,”
concluded Mr. Jolson.

ABOUT HARVEST CAPITAL CREDIT CORPORATION

Harvest Capital Credit Corporation provides customized financing
solutions to privately held small and mid-sized companies in the U.S.,
generally targeting companies with annual revenues of less than $100
million and annual EBITDA of less than $15 million. The Company’s
investment objective is to generate both current income and capital
appreciation primarily by making direct investments in the form of
subordinated debt, senior debt, and, to a lesser extent, minority equity
investments in privately held U.S. small to mid-sized companies. Harvest
Capital Credit Corporation is externally managed and has elected to be
treated as a business development company under the Investment Company
Act of 1940.

Forward-Looking Statements

This press release contains forward-looking statements subject to the
inherent uncertainties in predicting future results and conditions. Any
statements that are not of historical fact (including statements
containing the words “believes”, “plans”, “anticipates”, “expects”,
“estimates”, and similar expressions) should also be considered to be
forward-looking statements. Certain factors could cause actual results
and conditions to differ materially from those projected in these
forward-looking statements. These factors are identified from time to
time in our filings with the Securities and Exchange Commission. We
undertake no obligation to update such statements to reflect subsequent
events, except as may be required by law.

Contacts

Investor & Media Relations Contacts
Harvest Capital
Credit Corporation

Joseph A. Jolson
Chairman & Chief Executive Officer
(415)
835-8970
jjolson@harvestcaps.com

William E. Alvarez, Jr.
Chief Financial Officer
(212) 906-3589
balvarez@harvestcaps.com

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