Business
Solar Capital Ltd. Announces Quarter and Fiscal Year Ended December 31, 2019 Financial Results; 2019 NII of $1.71, 104% Coverage of 2019 Distributions of $1.64 Per Share
NEW YORK, Feb. 20, 2020 (GLOBE NEWSWIRE) -- Solar Capital Ltd. (NASDAQ: SLRC) (the “Company” or “Solar Capital”), today reported net investment income of
About this update from Slr Investment Corp.
[{"type":"text","content":"NEW YORK, Feb. 20, 2020 (GLOBE NEWSWIRE) -- Solar Capital Ltd. (NASDAQ: SLRC) (the “Company” or “Solar Capital”), today reported net investment income of $17.1 million, or $0.41 per share, for the fourth quarter of 2019. For the fiscal year ended December 31, 2019, the Company reported net investment income of $72.4 million, or $1.71 per share.\n At December 31, 2019, net asset value (NAV) was $21.44 per share. At year end, Solar Capital’s investment portfolio was 98.4% performing at cost. The Company’s Board of Directors declared a first quarter 2020 distribution of $0.41 per share, payable on April 3, 2020, to stockholders of record on March 19, 2020. The specific tax characteristics will be reported to stockholders on Form 1099 after the end of the calendar year. HIGHLIGHTS: At December 31, 2019: Comprehensive Investment portfolio* fair value: $1.8 billion Number of portfolio companies: 209 Net assets: $905.9 million Net asset value per share: $21.44 Comprehensive Investment Portfolio Activity* for the Quarter Ended December 31, 2019: Investments made during the quarter: $165.4 million Investments prepaid and sold during the quarter: $165.0 million Comprehensive Investment Portfolio Activity** for the Year Ended December 31, 2019: Investments made during the year: $735.7 million Investments prepaid and sold during the year: $645.0 million Operating Results for the Quarter Ended December 31, 2019: Net investment income: $17.1 million Net investment income per share: $0.41 Net realized and unrealized loss: $19.3 million Net decrease in net assets from operations: $2.2 million Loss per share: $0.05 Operating Results for the Year Ended December 31, 2019: Net investment income: $72.4 million Net investment income per share: $1.71 Net realized and unrealized loss: $16.4 million Net increase in net assets from operations: $56.0 million Earnings per share: $1.33 * The Comprehensive Investment Portfolio for the quarter ended December 31, 2019 is comprised of Solar Capital Ltd.’s investment portfolio, Crystal Financial’s (“Crystal”) full portfolio and NEF Holdings, LLC (“NEF”) full portfolio, and excludes the fair value of the equity interests in Crystal and NEF. ** Comprehensive Portfolio Activity for the year ended December 31, 2019 includes gross originations through Crystal and NEF. “We are pleased to report Solar Capital produced ...