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BlackRock Kelso Capital Corporation Declares Regular First Quarter Dividend Of $0.26 Per Share, Announces Financial Results For The Quarter And Year Ended December 31, 2011

BlackRock Kelso Capital Corporation (NASDAQ:BKCC) (“BlackRock Kelso Capital” or the “Company”, “we”, “us” or “our”) announced today that its Board of Directors has declared a first quarter dividend of $0.26 per share payable on April 3, 2012 to stockholders of record as of March 20, 2012.

BlackRock Kelso Capital also announced financial results for the quarter and year ended December 31, 2011.
 

HIGHLIGHTS:
 
Investment Portfolio: $1,056.7 million
Net Assets: $701.0 million
Indebtedness (borrowings under credit facility and senior secured notes): $343.0 million
Net Asset Value per share: $9.58
 
Portfolio Activity for the Quarter Ended December 31, 2011:
Cost of investments during period: $141.0 million
Sales, repayments and other exits during period: $86.1 million
 
Portfolio Activity for the Year Ended December 31, 2011:
Cost of investments during period: $401.5 million
Sales, repayments and other exits during period: $249.1 million
Number of portfolio companies at end of period: 54
 
Operating Results for the Quarter Ended December 31, 2011:
Net investment income per share: $0.15
Net investment income per share, as adjusted 1 : $0.27
Dividends declared per share: $0.26
Earnings per share: $0.10
Net investment income: $11.3 million
Net investment income, as adjusted 1: $19.7 million
Net realized and unrealized losses: $4.2 million
Net increase in net assets from operations: $7.0 million
 
Operating Results for the Year Ended December 31, 2011:
Net investment income per share: $1.00
Dividends declared per share: $1.10
Earnings per share: $1.05
Net investment income: $72.9 million
Net realized and unrealized gains: $4.0 million
Net increase in net assets from operations: $76.9 million
 

Portfolio and Investment Activity

During the three months ended December 31, 2011, we invested $141.0 million across three new and several existing portfolio companies. This compares to investing $84.2 million across three new and several existing portfolio companies for the three months ended December 31, 2010. Sales, repayments and other exits of investment principal totaled $86.1 million during the three months ended December 31, 2011, versus $41.0 million during the three months ended December 31, 2010.

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