This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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!

Fifth Street Finance's CEO Presents At UBS Global Financial Services Conference (Transcript)

We pay monthly dividends, we pay dividends basically in line with earnings, our earnings projections, and we’ve just declared $0.0958 the next three months; or actually through July, August and September. To date we’ve declared almost $5 in dividends, since our IPO. I personally have bought all of my shares, I’m one of the largest shareholders, and I brought that all 2 million shares; there’s no such thing as a granted equity or options in a strongly managed BDC. There’s the right button.

So versus the SPY, versus the [Exelis] on a total return basis, we’ve done really well. But I will tell, we probably have underperformed our expectations. We’ve underperformed our expectations for a couple of reasons, one we haven’t efficiently used our capital structure, two our 2007 assets have been disastrous, and it took us a long time to clean that portfolio. And number three, we did do one equity raise below book value to fund the SBA because we were forced by them to put $75 million in bank to get our first license at a time where the market was in (inaudible) and that was a great way to destroy $1 of a NAV. So absent those three things, I think we would have done extremely well and probably had a much better return than you’re seeing on this chart.

However, we are one of the dominant lenders in our space. I would tell you we were top three in something called the one stop or unitranche transaction. This areas is there is ups in gallop, I think we’re ahead of gallop, gallop things are ahead of us. We see gallop down there but for not just from us though. They would like to show tranche towards ahead of us which is not really true.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,954.02 -181.70 -1.00%
S&P 500 2,082.42 -18.62 -0.89%
NASDAQ 4,950.2510 -32.5580 -0.65%

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