Daily News: November 12, 2014

Monroe Capital Announces Record Q3/14 Results


Monroe Capital Corporation announced record financial results for Q3/14 ended September 30, 2014.

Highlights include:

  • Net investment income of $3.8 million, or $0.40 per share
  • Adjusted Net Investment Income (a non-GAAP measure) of $3.7 million, or $0.39 per share, the fourth consecutive quarter of growth in this metric
  • Net increase in net assets resulting from operations of $3.4 million, or $0.35 per share
  • Net asset value (“NAV”) of $132.8 million, or $13.95 per share
  • Paid quarterly dividend of $0.34 per share on September 30, 2014
  • Chief Executive Officer Theodore L. Koenig commented, “We are pleased to report another strong quarter of performance for the third quarter of 2014, evidenced by the growth in our adjusted net investment income per share to $0.39 per share from $0.35 per share in the second quarter of 2014, an 11% increase. This represents the fourth consecutive quarter of per share Adjusted Net Investment Income growth for MRCC. In an environment where many other BDCs are experiencing declining per share net investment income and are not covering their dividends, we are pleased that we have been able to grow our per share net investment income for each of the last four quarters and are comfortably covering our third quarter dividend of $0.34 per share. We have continued to optimize the portfolio during the third quarter, increasing our weighted average annualized effective portfolio yield while maintaining a portfolio that consists predominantly of first lien senior secured loans. We expect to continue to focus on optimizing and growing the portfolio throughout the remainder of 2014 as we remain focused on creating high current income and long-term value for our shareholders.”

    To read the entire press release, click here.