BlackRock Capital Investment Corporation (BKCC) Reports In-Line Q1 EPS

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Go back to BlackRock Capital Investment Corporation (BKCC) Reports In-Line Q1 EPS

BlackRock Capital Investment Corporation Reports Financial Results for the Quarter Ended March 31, 2020, Declares Quarterly Distribution of $0.10 per Share

May 6, 2020 4:02 PM EDT

GAAP Net Investment Income (NII) of $0.14 per share provided first quarter distribution coverage of 101%. The Companys stockholders approved a reduction in the minimum asset coverage ratio requirement from 200% to 150%, pursuant to Section 61(a)(2) of the Investment Company Act, which became effective May 2, 2020. Simultaneously, the Companys management and incentive fee rates were reduced as follows: (i) the management fee was reduced from 1.75% of total assets to 1.50% of total assets; provided that the rate will be further reduced to 1.00% on assets that exceed 200% of net asset value; (ii) the incentive fee based on NII was reduced... More