Seeking Alpha

More on Fifth Street Finance Q2 results

  • Net investment income of $34.7M or $0.25 per share vs. $34.3M and $0.25 in Q1. Current dividend quarterly run rate is $0.275 per share.
  • Net asset value of $9.71 slips from $9.81 at end of Q1. Last night's closing stock price was $9.64.
  • $177.3M of investments closed in seven new and five existing portfolio companies in Q2, down from $266.3M closed in Q2 one year ago.
  • $176.7M received in full repayments of five debt investments. Several prepayments in early Q3, including FSC's largest investment, Desert NDT, combines with recent capital raise to give company "significant dry powder."
  • Weighted average yield on debt investments of 10.8%. 72.4% of debt investments are at floating rates.
  • Previously: Fifth Street Finance misses by $0.01, misses on Investment Income
  • Stock flat premarket
Comments (2)
  • techy46
    , contributor
    Comments (8439) | Send Message
     
    Author - Current dividend quarterly run rate is $0.275 per share.

     

    No, the current dividend run rate is $0.2499 and will increase to $0.2583 next quarter and then $0.2751 in the last quarter of 2014. The announced dividend increase to $.0917 monthly does not take effect until September, 2014.
    7 Aug 2014, 10:30 AM Reply Like
  • AdamDivy
    , contributor
    Comments (416) | Send Message
     
    Good catch, techy46!
    7 Aug 2014, 10:32 AM Reply Like
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