PURCHASE, N.Y., Dec. 27, 2012 (GLOBE NEWSWIRE) -- MVC Capital, Inc. (NYSE:MVC), a publicly traded business development company that makes private equity and debt investments, today announced its financial results for the fourth quarter and year ended October 31, 2012.
Fourth Fiscal Quarter 2012 Financial Highlights
- Interest and dividend income of $5.1 million, compared with $2.9 million in Q4 FY 2011
- Fee and other income of $1.0 million, compared with $566,000 in Q4 FY 2011
- Net operating income of $3.6 million, compared to a loss of $4.1 million in Q4 FY 2011
- Increased quarterly dividend by 12.5% in the fourth quarter to $0.135 per share; paid 30 th consecutive quarterly dividend
- Completed sale of SHL Group Ltd. in August for gross proceeds of $15.3 million
"During the fourth quarter, MVC successfully took advantage of opportunities to harvest returns from our investment portfolio," noted Michael Tokarz, Chairman and Portfolio Manager. "In the case of SHL Group, we monetized our investment for a realized gain of approximately $9.2 million or a 2.5X return on invested cash. As it pertains to USG&E, we received a significant dividend that was supported by the Company's strong cash flows. Combined, these transactions highlight the strength of our diversified investment portfolio and our ability to generate favorable returns for shareholders."
|Unaudited, except for FY results (in thousands, except per share data)||Qtr 4 2012||Qtr 4 2011||FY 2012||FY 2011|
|Total operating income||$6,148||$3,421||$29,887||$15,971|
|Portfolio fees - asset management||106||--||968||--|
|Management fee - asset management||140||--||757||297|
|Interest and other borrowing costs||886||783||3,367||3,082|
|Net incentive compensation||(1,410)||3,483||(5,937)||1,948|
|Total waiver by adviser||(38)||(38)||(2,554)||(251)|
|Net operating income (loss)||3,572||(4,069)||21,121||(2,284)|
|Net (decrease) increase in net assets resulting from operations||($3,557)||$13,282||($21,655)||$6,971|
|Net (decrease) increase in net assets resulting from operations per share||($0.14)||$0.56||($0.90)||$0.30|
|Net Asset value per share||$16.14||$17.54||$16.14||$17.54|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV