Gross said that Crystal Financial has "about $ 400,000,000"
currently invested and SLRC expects the Crystal portion of the
portfolio to return "about 11 % plus or minus, going forward"
SLRC said this 11 % +/- interest return rate is lower than the original SLRC
portfolio, prior to the Cystal acquistion.
So a basic calc shows that Crystal should pass through as
dividend to SLRC of about $ 11,000,000 in the quarter ending
4Q 2012 total NII was $ 24,400,000 or total earnings was $ 23,300,000
If you add Crystal's pass through dividend to SLRC's 4Q NII, it looks like
Crystal will increase SLRC by approximately 45 %......?
Very roughly, the cystal added pass through dividend supports a per share
NII of about 91 cents. This sounds quite high. I don't expect to see
a 85 cent quarterly dividend from SLRC in 2013, for sure.
What this does show is that Cystal Financial addition could have
an interesting material effect on NII and SLRC portfolio diversification