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."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV