Business
OFS Capital Corporation Announces Fourth Quarter and Full Year 2019 Financial Results
Fourth Quarter Net Investment Income of $0.34 per common share Paid $1.36 per common share in Distributions in 2019 CHICAGO--(BUSINESS WIRE)-- OFS Capital
About this update from Ofs Capital Corporation
[{"type":"text","content":"\nFourth Quarter Net Investment Income of $0.34 per common share\nPaid $1.36 per common share in Distributions in 2019\n\n CHICAGO--(BUSINESS WIRE)--\nOFS Capital Corporation (Nasdaq: OFS) (“OFS Capital,” “we,” “us,” or “our”) today announced its financial results for the fiscal quarter and the full year ended December 31, 2019.\n\n\nFINANCIAL HIGHLIGHTS\n\n\n\nFourth quarter net investment income of $4.6 million, or $0.34 per common share.\n\n\nFull year 2019 net investment income of $19.1 million, or $1.43 per common share - an increase of 4% year-over-year and above the $1.36 regular distribution.\n\n\nPaid $1.36 per share in distributions in 2019.\n\n\nClosed investments in the fourth quarter of approximately $52.5 million.\n\n\nNet asset value (\"NAV\") per share decreased to $12.46 at December 31, 2019 from $12.74 at September 30, 2019 due to unrealized depreciation of the portfolio.\n\n\nAt December 31, 2019, 90% of our loan portfolio consisted of senior secured loans, based on fair value.\n\n\nOn March 11, 2020, OFS Capital's Board of Directors declared a distribution of $0.34 per share for the first quarter of 2020, payable on March 31, 2020 to stockholders of record as of March 24, 2020.\n\n\n\n\"Our net investment income again covered our distribution,\" said Bilal Rashid, OFS Capital's Chairman and Chief Executive Officer. \"We are pleased to declare our 29th consecutive quarterly distribution of $0.34 per share since our IPO in late 2012.\n\n\n\"We also remain focused on capital preservation. 90% of our total portfolio consisted of senior secured loans, based on our fair value, while our financing is long term and flexible. Our $2.1 billion platform has been in existence since 1994 and navigated multiple credit cycles. As a result, we believe we are well positioned for the future.”\n\n\n\n\nHIGHLIGHTS\n\n\n($ in millions, except for per share data)\n\n\n\n\n\n\n \n\n\n\nPortfolio Overview\n\n\n\n \n\n\n\nAt December 31, 2019\n\n\n\n\n\nTotal assets\n\n\n\n \n\n\n\n$\n\n\n\n538.2\n\n\n\n \n\n\n\n\n\nInvestment portfolio, at fair value\n\n\n\n \n\n\n\n$\n\n\n\n516.9\n\n\n\n \n\n\n\n\n\nNet assets\n\n\n\n \n\n\n\n$\n\n\n\n166.6\n\n\n\n \n\n\n\n\n\nNet asset value per share\n\n\n\n \n\n\n\n$\n\n\n\n12.46\n\n\n\n \n\n\n\n\n\nWeighted average yield on performing debt investments (1)\n\n\n\n \n\n\n\n10.40\n\n\n\n%\n\n\n\n\...