TCP Capital (TCPC) Reports Q4 EPS of $0.41

Note: EPS may not be comparable

TCP Capital (NASDAQ: TCPC) reported Q4 EPS of $0.41, versus $0.38 reported last year.

FINANCIAL HIGHLIGHTS

• Net investment income after taxes for the quarter ended December 31, 2017 was $23.9 million, or $0.41 per share on a diluted basis, net of $0.10 per share in incentive compensation. Net investment income after taxes for the year ended December 31, 2017 was $90.7 million, or $1.59 per share on a diluted basis, net of $0.40 per share in incentive compensation.
• Net increase in net assets resulting from operations for the quarter ended December 31, 2017 was $13.6 million, or $0.23 per share. Net increase in net assets resulting from operations for the year ended December 31, 2017 was $67.9 million, or $1.19 per share.
• Net asset value per share at December 31, 2017 decreased to $14.80 from $14.92 at September 30, 2017 and $14.91 at December 31, 2016.
• Total acquisitions during the quarter ended December 31, 2017 were $213.0 million and total dispositions were $221.6 million. Total acquisitions during the year ended December 31, 2017 were a record $865.4 million and total dispositions were a record $655.7 million.
• On November 3, 2017, we issued an additional $50.0 million of unsecured notes that mature on August 11, 2022 (the "2022 Notes), bringing the total outstanding principal of the 2022 Notes to $175.0 million. The 2022 Notes bear interest at an annual rate of 4.125%, payable semi-annually, and all principal is due upon maturity.
• On February 26, 2018, we established a new $100 million revolving, multi-currency credit facility with ING Capital LLC, as administrative agent (the "Credit Facility"). The Credit Facility matures on February 28, 2022 and generally bears interest at LIBOR plus 2.25%. This new credit facility replaces the previous SVCP Revolver which generally bore interest at LIBOR plus 2.5%.
• On February 27, 2018, our board of directors declared a first quarter dividend of $0.36 per share payable on March 30, 2018 to shareholders of record as of March 16, 2018.

For earnings history and earnings-related data on TCP Capital (TCPC) click here.

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