Business
Solar Capital Ltd. Announces Quarter and Fiscal Year Ended December 31, 2020 Financial Results;
Comprehensive Portfolio Grows 37% QoQ; Exceeds $2 Billion 100% Performing Portfolio Declares Quarterly Distribution of $0.41 Per Share for Q1, 2021 NEW YORK,
About this update from Slr Investment Corp.
[{"type":"text","content":"Comprehensive Portfolio Grows 37% QoQ; Exceeds $2 Billion 100% Performing Portfolio Declares Quarterly Distribution of $0.41 Per Share for Q1, 2021 NEW YORK, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Solar Capital Ltd. (NASDAQ: SLRC) (the “Company” or “Solar Capital”), today reported net investment income of $14.9 million, or $0.35 per share, for the fourth quarter of 2020. For the fiscal year ended December 31, 2020, the Company reported net investment income of $59.2 million, or $1.40 per share. At December 31, 2020, net asset value (NAV) increased slightly to $20.16 per share. At year end, Solar Capital’s investment portfolio was 100% performing. The Company’s Board of Directors declared a first quarter 2021 distribution of $0.41 per share, payable on April 2, 2021, to stockholders of record on March 18, 2021. The specific tax characteristics will be reported to stockholders on Form 1099 after the end of the calendar year. HIGHLIGHTS: At December 31, 2020: Comprehensive Investment portfolio* fair value: $2.0 billionNumber of unique issuers: >600Net assets: $852.0 millionNet asset value per share: $20.16Net debt-to-equity: 0.78xAvailable capital**: $737 million, subject to borrowing base availability Comprehensive Investment Portfolio Activity*** for the Quarter Ended December 31, 2020: Investments made during the quarter: $721.1 millionInvestments prepaid and sold during the quarter: $147.2 million Comprehensive Investment Portfolio Activity** for the Year Ended December 31, 2020: Investments made during the year: $974.5 million Investments prepaid and sold during the year: $680.9 million Operating Results for the Quarter Ended December 31, 2020: Net investment income: $14.9 millionNet investment income per share: $0.35Net realized and unrealized gain: $3.4 million Net increase in net assets from operations: $18.3 millionEarnings per share: $0.43 Operating Results for the Year Ended December 31, 2020: Net investment income: $59.2 millionNet investment income per share: $1.40Net realized and unrealized loss: $43.8 million Net increase in net assets from operations: $15.5 millionEarnings per share: $0.37 * The Comprehensive Investment Portfolio for the quarter ended December 31, 2020 is comprised of Solar Capital Ltd.’s investment portfolio, Crystal Financial’s (“Crystal”) full portfolio, NEF Holdings, LLC (“NEF”) full portfolio and Ki...