This call is being webcast and can be accessed at ir.kkr.com under the KKR Financial Holdings heading. A replay will be available later today. You can also find our second quarter supplemental information packet, which Bill and Mike will refer to during the call on the website.
We'd like to remind everyone that this call will contain forward-looking statements based on management's beliefs about KFN's operations and results as well as about general economic conditions.
These statements are subject to substantial uncertainties and risks that are described in greater detail, both on our supplement and our filings we've made with the SEC, which you can access on our website. KFN's actual results may vary materially from the views we express today.
In addition, some of our discussion will include references to non-GAAP financial measures. Information about these measures as well as their corresponding GAAP reconciliations can be found in the supplements.And before we get started, we'd like to announce that we're holding our first investor day in New York on the morning of September 5th. This will be a half day event giving you a detailed look at KFN's investment strategies and the outlook for the business as a whole.We'll put out a press release in mid-August with further details, including information on the live webcast so anyone interested can participate. And with that, I'll turn the call over to Bill.Bill SonnebornThank you, Pam, and thanks to all of you for joining our call today. As usual, I'll begin with some second quarter highlights then Mike will go over our financial results. I'll warp up with a review of the market and our outlook.Today we announced that our board of directors declared a $0.21 cash distribution on all our common shares for the quarter. This represents a 17% increase over the regular distribution we paid in each of the last four quarters.
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