Monroe Capital Announces Strong First Quarter Financial Results

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May 12, 2015, 07:24 AM

Filed Under: Corporate Earnings

Related: Monroe Capital Corp., Specialty Finance, Theodore Koenig

Monroe Capital Corporation announced its financial results for the first quarter ended March 31, 2015.

First Quarter 2015 Financial Highlights include:

Net Investment Income of $4.2 million, or $0.44 per share;
Adjusted Net Investment Income (a non-GAAP measure described in our press release) of $4.2 million, or $0.44 per share;
Net increase in net assets resulting from operations of $3.9 million, or $0.41 per share;
Net asset value ("NAV") of $135.9 million, or $14.11 per share;
Completed a public offering of approximately 2.5 million shares on April 20, 2015, generating gross proceeds of $36.4 million;
Six consecutive quarters of Net Investment Income growth when compared to the prior year quarter; and
Announced a 3% increase in the quarterly dividend to $0.35 per share ($1.40 annualized), our tenth consecutive quarterly dividend, providing a current cash dividend yield of approximately 9.7%.

Chief Executive Officer Theodore L. Koenig commented, “We are pleased to report another strong quarter of performance for the first quarter of 2015, with adjusted net investment income per share of $0.44 per share comfortably covering our dividend of $0.35 per share. We are also excited that we were able to complete a public offering of approximately 2.5 million shares on April 20, 2015 generating gross proceeds of $36.4 million. In an environment when many other BDCs are trading below book value and not generating enough income to cover their dividends, we are pleased to be able to raise this capital at an accretive price to our per share NAV and generate value for our shareholders. We expect to invest this capital over the next quarters in order to support the continued growth of the portfolio.”

To read the press release in its entirety, please click on the following link: Monroe Capital Corporation 1st Quarter 2015 Earnings Press Release.

Monroe Capital Corporation is a publicly-traded specialty finance company that principally invests in senior, unitranche and junior secured debt and, to a lesser extent, unsecured debt and equity investments in middle-market companies.