NGP Capital Resources Company Q1 2010 Earnings Call Transcript
As we announced about six weeks ago, our dividend for the first quarter of this year is $0.17 per common share; the same as for our fourth quarter dividend in 2009. The dividend was paid on April 9th.
As of the end of the quarter, our funded targeted investment consisted of 15 portfolio companies totaling $242.7 million and having fair value of $193 million. Our total committed and available for funding was approximately $248.7 million. Our net asset value at the end of the first quarter was $11.17 per common share.
Our earnings release was distributed this morning. Those who did not receive the copy of the release can call us or can download the release from our website, which as you know is www.ngpcrc.com. Also for anyone wishing to listen to a recording of our prepared comments today, we will have a replay available by phone through next Wednesday. The call will also be available through a link on the investor relations page of our website.
I would like to remind everyone at this point that our remarks today may include comments which could be considered forward-looking statements. And such statements are subject to many factors that can cause actual results to differ materially from our expectations as expressed in those forward-looking statements. Those factors are described in more detail in our SEC filings, which I refer you through our website or through the SEC website to review those filings. We undertake no obligation to publicly update or revise any forward-looking statements.With that, I will turn the call over to Steve.Steve GardnerThank you, John. Good morning everybody. For the first quarter of 2010, our net investment income totaled $2.4 million or $0.11 per share and the net increase in stockholders equity from operations was $5 million or $0.24 per share. The weighted average yield on our targeted portfolio investments exclusive of capital gains or losses was 7.23% at March 31, 2010, up from 5.38% at the end of 2009.
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