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CHICAGO, March 8, 2013 (GLOBE NEWSWIRE) -- Monroe Capital Corporation (Nasdaq:MRCC) ("Monroe") today announced its first quarter 2013 dividend and its financial results for the fourth quarter and full year ended December 31, 2012.
Except where the context suggests otherwise, the terms "Monroe," "we," "us," "our," and "Company" refer to Monroe Capital Corporation.
Fourth Quarter and Full Year 2012 Financial Highlights
Net increase in net assets resulting from operations of $0.18 per share
Net investment income of $0.15 per share
Net asset value (NAV) of $14.54 per share
Declared a quarterly dividend of $0.34 per share for the first quarter of 2013
Originated $78.6 million of new funded investments during the quarter, in addition to the initial portfolio purchase of $67.5 million of assets in connection with our initial public offering ("IPO")
Successful completion of our IPO, raising gross proceeds of $86.3 million
"Monroe's first quarter after our completing our initial public offering was an extremely active one. In just a little over two months, we grew our investment portfolio by more than $65 million, almost doubling the size of our portfolio," said Theodore L. Koenig, Chairman and Chief Executive Officer of the Company. "Our pipeline remains robust for 2013 as we look to optimize our portfolio over time."
Portfolio and Investment Activities
As of December 31, 2012, we had debt and equity investments in 28 portfolio companies, with a total fair value of $132.8 million.
During the period ended December 31, 2012, we made investments of $144.5 million and had repayments of $11.9 million on existing debt investments. As of December 31, 2012, the weighted average contractual yield on our debt investments was 9.8% and the effective yield was 11.3%.
Total investment income was $1.7 million and total expenses were $0.9 million in the three months and full year ended December 31, 2012. Net investment income was $0.8 million, or $0.15 per share, for the same period.