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Fifth Street Finance Corp. Announces Quarter Ended June 30, 2013 Financial Results

WHITE PLAINS, N.Y., Aug. 7, 2013 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (Nasdaq:FSC) ("Fifth Street" or "we") announces its financial results for the third fiscal quarter ended June 30, 2013.

Third Fiscal Quarter 2013 Financial Highlights

  • Net investment income for the quarter ended June 30, 2013 was $30.4 million or $0.26 per share, as compared to $21.9 million or $0.27 per share for the quarter ended June 30, 2012;  
  • Net asset value per share was $9.90 as of June 30, 2013, as compared to $9.85 as of June 30, 2012;  
  • Net realized and unrealized losses for the quarter ended June 30, 2013 were $4.4 million or $0.04 per share, as compared to net realized and unrealized gains of $0.2 million or $0.00 per share for the quarter ended June 30, 2012; and  
  • No investments were on non-accrual status as of June 30, 2013. 

Fourth Fiscal Quarter 2013 and First Fiscal Quarter 2014 Dividend Declarations

To date, our Board of Directors has declared monthly dividends for the fourth fiscal quarter of 2013 and the first fiscal quarter of 2014 as follows: 

  • $0.0958 per share, which was paid on July 31, 2013 to stockholders of record on July 15, 2013;
  • $0.0958 per share, payable on August 30, 2013 to stockholders of record on August 15, 2013;
  • $0.0958 per share, payable on September 30, 2013 to stockholders of record on September 13, 2013;
  • $0.0958 per share, payable on October 31, 2013 to stockholders of record on October 15, 2013; and
  • $0.0958 per share, payable on November 29, 2013 to stockholders of record on November 15, 2013. 

Portfolio and Investment Activity

Our Board of Directors determined the fair value of our portfolio at June 30, 2013 to be $1.80 billion, as compared to $1.29 billion at September 30, 2012. Total assets at June 30, 2013 were $1.90 billion, as compared to $1.39 billion at September 30, 2012.

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