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)|
|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|
|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."
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