Business
Newtek Business Services Corp. Reports Second Quarter 2021 Financial Results
Company Declares $0.90 per share 2021 Third Quarter Dividend; Company has Paid and/or Declared $2.10 per share in Dividends for the First Three Quarters of
About this update from Newtekone, Inc.
[{"type":"text","content":"Company Declares $0.90 per share 2021 Third Quarter Dividend; Company has Paid and/or Declared $2.10 per share in Dividends for the First Three Quarters of 2021; a 32.9% Increase Over the Same Period Last Year\nBOCA RATON, Fla., Aug. 10, 2021 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. (“Newtek” or the “Company”) (Nasdaq: NEWT), an internally managed business development company (“BDC”), announced today its financial and operating results for the three and six months ended June 30, 2021. Second Quarter 2021 Financial Highlights Total investment income of $36.6 million for the three months ended June 30, 2021; a decrease of 21.6% compared to total investment income of $46.7 million for the three months ended June 30, 2020.Net investment income of $15.5 million, or $0.69 per share, for the three months ended June 30, 2021; a decrease of $(0.73) per share compared to net investment income of $29.7 million, or $1.42 per share, for the three months ended June 30, 2020.Adjusted net investment income (“ANII”)1 of $27.0 million, or $1.20 per share, for the three months ended June 30, 2021; a decrease of 12.4%, on a per share basis, compared to ANII of $28.5 million, or $1.37 per share, for the three months ended June 30, 2020.Debt-to-equity ratio of 1.24x at June 30, 2021; proforma debt-to-equity ratio was 1.16x after taking into account the sales of government-guaranteed portions of SBA 7(a) loans prior to June 30, 2021, which sales settled subsequent to the balance sheet date.Total investment portfolio increased by 7.4% to $696.1 million at June 30, 2021, from $648.4 million at June 30, 2020.Net asset value (“NAV”) of $369.0 million, or $16.38 per share, at June 30, 2021; an increase of 6.0%, on a per share basis, compared to NAV of $15.45 per share at December 31, 2020. Six Months Ended June 30, 2021 Financial Highlights Total investment income of $71.3 million for the six months ended June 30, 2021; an increase of 14.1% over total investment income of $62.5 million for the six months ended June 30, 2020.Net investment income of $30.7 million, or $1.37 per share, for the six months ended June 30, 2021, which represents a 4.4% increase on a dollar basis, and a 3.5% decrease, on a per share basis, compared to net investment income of $29.5 million, or $1.42 per share, for the three months ended June 30, 2020.ANII of $50.5 millio...