BOSTON, Aug. 6, 2013 (GLOBE NEWSWIRE) -- THL Credit, Inc. (Nasdaq:TCRD) ("THL Credit" or the "Company"), a direct lender to middle market companies, today announced financial results for its fiscal second quarter ended June 30, 2013. Additionally, THL Credit announced that its Board of Directors has declared a third fiscal quarter 2013 dividend of $0.34 per share and a special dividend of $0.08 per share both payable on September 30, 2013, to stockholders of record as of September 16, 2013.
|($ in millions, except per share amounts)|
|Portfolio results||As of June 30 , 2013|
|Investment portfolio, at fair value||$507.1|
|Net asset value per share||$13.58|
|Weighted average yield on investments||12.8%|
|Quarter ended June 30 , 2013||Quarter ended June 30, 2012|
|Total investments made, at par||$142.3||$66.8|
|Number of new portfolio companies||6||6|
|Number of portfolio companies at end of period||46||30|
|Total investment income||$22.7||$11.8|
|Net investment income||$13.3||$6.5|
|Net increase in net assets from operations||$15.6||$6.0|
|Net investment income per share||$0.49||$0.32|
|Dividends declared per share||$0.34||$0.30|
"We are very pleased with our second quarter results, which included $76 million of net portfolio growth, higher than anticipated incremental earnings in connection with the realization of equity positions in Surgery and Yellow Pages and a successful equity offering completed in June," said James K. Hunt, chief executive officer of THL Credit. "We made $142 million of investments and received $73 million in proceeds from investment repayments, sales and recapitalizations, including $7 million of proceeds from Yellow Pages and Surgery that have been reflected as dividends and realized gains this quarter. Our continued growth is supported by access to the full $170 million of borrowing capacity of our revolving credit facility providing us ample liquidity. To further expand our active pipeline of investment opportunities, I am pleased to announce the addition of Monty Cook as a managing director in our New York office and the addition of Dan Letizia as director and Chris Babick as vice-president in our Chicago office. With a presence in five major financial regions in the country, we are well positioned for future growth."