Monroe Capital Corporation announced its financial results for the second quarter ended June 30, 2019.
Second Quarter 2019 Financial Highlights:
- Net investment income of $7.1 million, or $0.35 per share
- Adjusted Net Investment Income (a non-GAAP measure described below) of $7.1 million, or $0.35 per share
- Net increase in net assets resulting from operations of $4.0 million, or $0.20 per share
- Net asset value (“NAV”) of $255.9 million, or $12.52 per share
- Paid quarterly dividend of $0.35 per share on June 28, 2019
- Current annual cash dividend yield to shareholders of approximately 12.4%
- Based on an annualized dividend and closing share price as of August 5, 2019.
Chief Executive Officer Theodore L. Koenig commented, “We are pleased to report another quarter of consistent net investment income, with Adjusted Net Investment Income of $0.35 per share, representing the 21st straight quarter where per share Adjusted Net Investment Income met or exceeded our quarterly per share dividend. We have also made our 27th consecutive quarterly dividend payment to our shareholders.
"As of quarter end, our portfolio totaled $630.8 million in investments at fair value, which represented a $33.9 million increase in the portfolio during the second quarter, or about a 6% increase. Portfolio growth during the quarter was funded primarily utilizing the available capital under our revolving credit facility. We would expect to continue to selectively grow our portfolio, including utilizing additional leverage capacity available to us under our revolving credit facility. We would expect recent and continued portfolio growth to positively contribute to our earnings in future quarters.”
Monroe Capital Corporation is a business development company affiliate of the award winning private credit investment firm and lender, Monroe Capital LLC.