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Monroe Capital Announces Strong Third Quarter Financial Results

November 11, 2015, 08:07 AM
Filed Under: Corporate Earnings

Monroe Capital Corporation MRCC ("Monroe") announced its financial results for the third quarter ended September 30, 2015. 

Third Quarter 2015 Financial Highlights:

  • Net investment income of $4.5 million, or $0.36 per share
  • Adjusted Net Investment Income (a non-GAAP measure described below) of $4.5 million, or $0.36 per share
  • Net increase in net assets resulting from operations of $4.7 million, or $0.38 per share
  • Net asset value ("NAV") of $179.9 million, or $14.21 per share
  • Paid quarterly dividend of $0.35 per share on September 30, 2015

Chief Executive Officer Theodore L. Koenig commented, "We are pleased to report strong earnings for the third quarter of 2015, with net investment income of $0.36 per share, covering our dividend of $0.35 per share. This quarter represents our sixth consecutive quarter of dividend coverage, even after raising our dividend to $0.35 per quarter in the first quarter of this year and after raising new capital in a secondary offering during the second quarter. We are pleased to be able to continue to provide our stockholders consistent, strong quarterly results and a stable book value in what has been a challenging market environment for other BDCs. During the quarter, we put to work a significant amount of the new capital from our second quarter capital raise, increasing our investments at fair value by $47.2 million. We expect to continue to grow our portfolio over time as well as redeploy proceeds from repayments into high return investment opportunities."

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