Daily News: August 12, 2014

Monroe Capital Reports Q2 Net Invested Income Increase

Monroe Capital Corporation reported Q2/14 net investment income of $3.5 million, was up 13% from $3.1 million in Q1/14. The company also noted a sequential increase in its principal amount of invested assets of $13.5 million.

Monroe Capital Corporation announced its financial results for the second quarter ended June 30, 2014.

Q2/14 highlights:

  • Net investment income of $3.5 million, up from $3.1 million in Q1/14
  • Adjusted Net Investment Income of $3.3 million, up from $3.2 million in Q1/14
  • Net asset value of $133.2 million, down from $135.1 million in Q1/14

Chief executive officer Theodore L. Koenig commented, “We are pleased to report another strong quarter of performance for the second quarter of 2014, evidenced by the growth in our adjusted net investment income per share to $0.35 per share from $0.33 per share in the first quarter of 2014. This is the first quarter since our initial public offering that adjusted net investment income per share exceeded our dividend of $0.34 per share. We have continued to grow our investment portfolio, as we leveraged Monroe Capital’s robust national loan origination platform and began to access the leverage available to our Small Business Investment Company (SBIC) subsidiary. Our principal amount of invested assets increased to $239.7 million as of June 30, 2014, an increase of $13.5 million since March 31, 2014. As well, we have continued to optimize the portfolio during the second quarter, with the weighted average annualized effective yield on the portfolio increasing to 11.1% at June 30, 2014, from 10.8% at March 31, 2014. We expect to continue to focus on optimizing and growing the portfolio throughout the remainder of 2014 as we remain focused on creating long-term value for our shareholders.”

To read the full Monroe Capital news release, click here.