BlackRock Capital Investment Corporation (BKCC) Reports Q2 Loss of $0.40/sh

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Go back to BlackRock Capital Investment Corporation (BKCC) Reports Q2 Loss of $0.40/sh

BlackRock Capital Investment Corporation Reports Financial Results for the Quarter Ended June 30, 2020, Declares Quarterly Distribution of $0.10 Per Share

July 29, 2020 4:02 PM EDT

GAAP Net Investment Income (NII) of $0.13 per share, or $8.8 million, provided second quarter distribution coverage of 129%. Net Asset Value (NAV) per share decreased 9.5% or $0.51 per share to $4.84 per share on a quarter-over-quarter basis, largely driven by fair value declines in two portfolio companies. Continued progress toward reducing non-core portfolio exposure, including exiting two positions. As a result, non-core positions represented 11% of the portfolio as of June 30, 2020, which was down from 28% a year ago. Net leverage of 0.95x was up from 0.85x in comparison to the previous quarter, driven primarily by a decrease in NAV. Total... More