Solar Capital Ltd. (NASDAQ: SLRC), today reported net investment income (NII) of $0.59 per share for the three months ended June 30, 2011, with a net asset value (NAV) per share of $23.22 and net income per share of $0.34. Solar Capital also announced that its Board of Directors has declared a third quarter dividend of $0.60 per share, payable on October 4, 2011 to stockholders of record on September 20, 2011. The Company expects the dividend to be paid from taxable earnings with specific tax characteristics reported to stockholders after the end of the calendar year.
|($ in millions, except per share amounts)|
|June 30, 2011||December 31, 2010|
|NAV per share||$||23.22||$||22.73|
|Investment Portfolio Composition:|
|Senior Secured Loans||$||303.4||$||247.1|
|Weighted Average Portfolio Statistics:|
|Yield on Fair Value||14.0||%||14.3||%|
|Yield on Cost||13.4||%||13.8||%|
|Three months ended||Six months ended|
|June 30, 2011||June 30, 2010||June 30, 2011||June 30, 2010|
|Net investment income||$||21.4||$||15.2||$||40.5||$||36.3|
|Net realized and unrealized gain||(9.0||)||1.3||20.9||42.2|
“Once again, we had sequential improvement in our net investment income per share,” said Michael Gross, Chairman and CEO of Solar Capital Ltd. “We have additional low cost capital available to invest. Our low cost financing affords us the ability to take advantage of the attractive investment environment.”
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