Business
SLR Investment Corp. Announces Quarter Ended March 31, 2021 Financial Results
Net Investment Income Growth Stable Net Asset Value 100% Performing Portfolio Declares Quarterly Distribution of $0.41 Per Share for Q2, 2021 NEW YORK, May
About this update from Slr Investment Corp.
[{"type":"text","content":"Net Investment Income Growth Stable Net Asset Value 100% Performing Portfolio Declares Quarterly Distribution of $0.41 Per Share for Q2, 2021 NEW YORK, May 05, 2021 (GLOBE NEWSWIRE) -- SLR Investment Corp. (NASDAQ: SLRC) (the “Company” or “SLRC”), today reported net investment income of $15.5 million, or $0.37 per share, for the first quarter 2021. At March 31, 2021, net asset value (NAV) was $20.26 per share, an increase of $0.10 per share from December 31, 2020. As of March 31, 2021, the Company’s portfolio was 100% performing. The Board declared a second quarter distribution of $0.41 per share payable on July 2, 2021 to stockholders of record as of June 23, 2021. The specific tax characteristics will be reported to stockholders on Form 1099 after the end of the calendar year. HIGHLIGHTS: At March 31, 2021: Comprehensive Investment portfolio* fair value: $2.02 billion Number of portfolio companies: >600 Net assets: $856.2 million Net asset value per share: $20.26 Net debt-to-equity: 0.82x Available capital**: $683 million, subject to borrowing base availability Comprehensive Investment Portfolio Activity*** for the Quarter Ended March 31, 2021: Investments made during the quarter: $214.9 million Investments prepaid and sold during the quarter: $232.6 million Operating Results for the Quarter Ended March 31, 2021: Net investment income: $15.5 million Net investment income per share: $0.37 Net realized and unrealized gain: $6.0 million Net increase in net assets from operations: $21.5 million Earnings per share: $0.51 * The Comprehensive Investment Portfolio for the quarter ended March 31, 2021 is comprised of SLRC’s investment portfolio, SLR Credit Solutions’ (“SLR-CS”) full portfolio, SLR Equipment Finance’s (“SLR-EF”) full portfolio and Kingsbridge Holdings, LLC’s (“KBH”) full portfolio, and excludes the Company’s fair value of the equity interests in SLR-CS, SLR-EF and KBH and also excludes SLRC’s loan to KBH. ** Please see Liquidity and Capital Resources. *** Comprehensive Portfolio Activity for the quarter ended March 31, 2021 includes gross originations through SLR-CS, SLR-EF and KBH. “During the first quarter of 2021, SLRC drove a 14% increase in gross investment income and an approximately 4% increase in net investment income per share. Continued pristine credit quality resulted in further improvement in valuations and ...