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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

BlackRock Kelso Capital Corporation Declares Regular Quarterly Dividend Of $0.26 Per Share, Announces September 30, 2012 Quarterly Financial Results

Expenses

Total expenses for the three and nine months ended September 30, 2012 were $16.8 million and $44.0 million, respectively, versus $12.3 million and $33.9 million for the three and nine months ended September 30, 2011. Of these totals, for the three and nine months ended September 30, 2012, $6.0 million and $16.9 million, respectively, were base management fees, versus $5.1 million and $14.5 million for the three and nine months ended September 30, 2011. The increases in the current period reflect the overall growth and appreciation in value of our portfolio. Interest and credit facility related expenses were $5.2 million and $14.9 million, respectively, for the three and nine months ended September 30, 2012, compared to $4.2 million and $11.9 million for the three and nine months ended September 30, 2011. The increase in the 2012 period is mainly a result of increased borrowing levels. Average debt outstanding for the nine months ended September 30, 2012 and 2011 was $390.7 million and $276.6 million, respectively. Incentive management fees for the three and nine months ended September 30, 2012 were $3.0 million and $5.2 million, respectively. There were no such fees for the 2011 periods. Of the current period totals and new this quarter, $3.0 million represents incentive management fees accrued based on a hypothetical capital gains calculation, as required by GAAP. A hypothetical liquidation is performed each quarter possibly resulting in an incentive fee accrual if the amount is positive. It should be noted, however, that a fee so calculated and accrued is not due and payable, if at all, until the end of each measurement period, or every June 30. Expenses also consist of amortization of debt issuance costs, professional fees, investment advisor expenses, administrative services expense, director fees and miscellaneous other expenses.

Net Investment Income

Net investment income totaled $23.9 million and $65.3 million, or $0.32 per share and $0.89 per share, respectively, for the three and nine months ended September 30, 2012. For the three and nine months ended September 30, 2011, net investment income totaled $21.0 million and $61.6 million, or $0.29 per share and $0.84 per share, respectively. The increase for the current nine month period is primarily a result of a larger overall portfolio due to net new investment activity, partially offset by an increase in base management fees and interest and credit facility related expenses, as well as the accrual of incentive management fees based on hypothetical capital gains.

3 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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