BlackRock Capital Investment Corporation (BKCC) Misses Q4 EPS by 2c

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

March 3, 2021 4:02 PM EST

GAAP Net Investment Income (NII) of $0.10 per share, or $7.3 million, provided fourth quarter distribution coverage of 101%. Net Asset Value (NAV) increased to $315.0 million, up 2.8% from $306.6 million; NAV per share decreased 0.2% to $4.23 per share from $4.24 per share, primarily due to an increase in total shares outstanding. Transformational progress towards reducing junior capital and non-core exposure, successfully exiting $171 million of these investments during the fourth quarter and subsequent period. As a result, non-core holdings represent just 9%1 of the total portfolio at fair value as of February 23, 2021. Net leverage of 0.51x as of December 31, 2020, down significantly from 0.98x... More