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Monroe Capital Corporation Declares First Quarter 2013 Dividend Of $0.34 Per Share And Announces Fourth Quarter And Full Year 2012 Financial Results

Stocks in this article: MRCC

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%.

Financial Review

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.

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