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NGP Capital Resources Company Announces Declaration Of Quarterly Dividend, 2010 Financial Results And Portfolio Activity

Stocks in this article: NGPC

HOUSTON, March 11, 2011 (GLOBE NEWSWIRE) -- NGP Capital Resources Company (Nasdaq:NGPC) (the "Company") today announced that its Board of Directors has declared a quarterly dividend to stockholders in the amount of $0.18 per common share. The expected dividend payment date is April 8, 2011 to stockholders of record on March 31, 2011. It is expected that the dividend will be paid out of ordinary income for tax purposes. The tax characteristics of all dividends will be reported to each stockholder on Form 1099 after the end of the year.

The Company also announced its financial results for the fourth quarter and full year 2010.

Highlights for the year ended 2010:

Stockholders' equity: $235.7 million
Net asset value per share: $10.90 
 
Operating Results:
Net increase in stockholders' equity (net assets) from operations: $10.5 million
Net investment income: $11.2 million
Net realized capital loss on portfolio securities and commodity derivative instruments before income taxes: $33.3 million
Net decrease in unrealized depreciation on portfolio securities and commodity derivative instruments before income taxes: $31.2 million
Dividends declared per common share: $0.69 
 
Portfolio and Investment Activity:
New investments made in portfolio companies during period: $59.4 million
Total invested in portfolio companies at December 31, 2010: $242.6 million
Number of portfolio companies at December 31, 2010: 20 

Portfolio and Investment Activity  During 2010, the Company funded investments to five new portfolio companies of $59.4 million and an additional $18.1 million to existing portfolio companies. The Company received principal repayments, realizations and settlements of $87.7 million in 2010. From commencement of investment operations in November 2004 through December 31, 2010, the Company has invested $759.7 million in thirty-four portfolio companies, all energy-related, and received principal repayments, realizations and settlements of $517.1 million. At December 31, 2010, the Company's targeted investment portfolio consisted of twenty portfolio companies totaling $242.6 million.  

The weighted average yield on targeted portfolio investments (exclusive of capital gains or losses) was 10.42% at December 31, 2010.

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