This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

THL Credit Announces Fourth Quarter 2010 Financial Results And Declares First Quarter Dividend Of $0.23 Per Share

BOSTON, March 14, 2011 (GLOBE NEWSWIRE) -- THL Credit, Inc. (Nasdaq:TCRD) ("THL Credit"), a middle market capital specialist, today announced financial results for its fiscal fourth quarter ended Dec. 31, 2010. Additionally, THL Credit announced that its Board of Directors has declared its first fiscal quarter 2011 dividend of $0.23 per share, payable on March 31, 2011, to stockholders of record as of March 25, 2011.


Fiscal year ended Dec. 31, 2010 ($ in millions, except per share amounts)    
Portfolio results    
Total assets $264.4 million    
Investment portfolio, at fair value $153.5 million    
Net assets $260.0 million    
Net asset value per share $13.06    
Weighted average yield on debt investments 15.8%    
  Year ended Dec. 31, 2010 Quarter ended Dec. 31, 2010 Quarter ended Sept. 30, 2010
Post-IPO portfolio activity    
Net investments made, at par $91.6 million $49.3 million $19.8 million
Number of new portfolio companies 8 4 2
Number of portfolio companies at end of period 13 13 9
Operating results      
Total investment income $12.33 million $5.80 million $4.08 million
Net investment income $6.03 million $3.46 million $1.86 million
Net increase in net assets from operations $7.79 million $4.06 million $2.92 million
Net investment income per share $0.31 $0.17 $0.09
Dividends per share attributable to period $0.30 $0.15 $0.10

"Prudent and patient deployment of capital remains a hallmark of THL Credit's investment strategy. Our 2011 year-to-date pipeline is ahead of last year's and February's new opportunities to consider significantly increased from January," said James K. Hunt, chief executive officer of THL Credit. "The recent closing of $150 million in capital commitments for THL Credit Greenway LLC ('Greenway') expands our ability to participate in a broader spectrum of investment opportunities, including larger-sized investments. Greenway is currently an investor in our three recent investments, and should continue to enhance deployment of THL Credit's capital and our ability to compete in the market, while being accretive to our shareholders."

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs