Slide 1: Full Year 2016 Earnings Presentation
Full Year 2016 Earnings Presentation
Slide 2: Forward Looking / Non-GAAP Information
Forward Looking / Non-GAAP Information This presentation includes forward-looking statements. The matters discussed in this presentation, as well as in future oral and written statements by management of KCAP Financial, Inc., that are forward-looking statements are based on current management expect
Slide 3: Full Year 2016 Highlights
Full Year 2016 Highlights Net Investment Income of $0.50 per basic share for 2016 and $0.65 for 2015 Components of Distributable Resources Cash distributed by Asset Manager Affiliates in excess of their taxable earnings was $0.03 per basic share for 2016 and $0.10 per basic share in 2015 Inves
Slide 4: Originations and Repayments
Originations and Repayments Invested $73 million in new originations during the 2016 Funded out of repayments and asset sales Weighted average yield on our debt securities portfolio was 7.0% in 2016, down from 7.4% in 2015 4
Slide 5: Components of Distributable Resources
Components of distributable RESOURCES Delivering balanced sources of distributable cash flow Year-Ended Shareholder Distributions per share 2016¹ 2015¹ $ in millions Distribution $55.0 AMA Cash in Net investment income $ 0.50 0.65 Excess of Taxable Tax Accounting Difference on CLO Equity Investments
Slide 6: Portfolio Highlights
PORTFOLIO HIGHLIGHTS PORTFOLIO DEBT SECURITIES - INDUSTRY DIVERSIFICATION Healthcare & Pharmaceuticals 10% Services: Business Beverage, Food and Tobacco 2% 22% Consumer goods: Non-durable 3% Telecommunications 3% Environmental Industries 3% Media: Advertising, Printing & Publishing 3% Consumer goods
Slide 7: Strong Credit Quality
Strong Credit Quality The credit quality of our current portfolio remains strong. 84% of the debt securities portfolio is secured as of December 31, 2016. Two of our PIK investments were on partial non-accrual status. Data as of 12/31/16 unless otherwise noted 7
Slide 8: Financial Highlights
Financial Highlights NET ASSET VALUE INVESTMENT PORTFOLIO NAV per Cost/Amortized December 31, 2016 Fair Value Share December 31, 2016 Cost Fair Value Investments at Fair Value Money Market Accounts $ 28,699,269 $ 28,699,269 Investments in money markets $ 28,699,269 $ 0.77 Investments in debt securit