Management continues to deliver!
- We are pleased to report continued strong earnings for the first quarter of 2016, with Adjusted Net Investment Income of $0.47 per share, well in excess of our dividend of $0.35 per share.
- We are also pleased to continue to provide our stockholders strong quarterly results, with significant dividend coverage and an increase in our per share NAV.
- Net investment income for the quarter ended March 31, 2016 totaled $5.8 million, or $0.44 per share, compared to $5.0 million, or $0.39 per share, for the quarter ended December 31, 2015
- We are excited about our recent approval for $75.0 million in additional SBA-guaranteed debentures. These additional low-cost SBA debentures offer a real tangible benefit that will allow us to continue to profitably grow our portfolio.
Another great quarter, no complaints here......With Tangible book value at $9.63, please buyback as many shares as possible at/under Tangible book value!!
MRCC just came out with their earnings report. Fine little BDC without the fanfare. They indicate the following: "We believe the Company has a solid, well performing investment portfolio, evidenced by zero exposure to the Metals and Mining and the Oil and Gas Exploration & Production industries, as designated by Standard and Poor’s, which have experienced significant performance issues and increased defaults."
This company refuses to disappoint!
- We are pleased to report continued strong earnings for the fourth quarter of 2015, with Adjusted Net Investment Income of $0.40 per share, comfortably covering our dividend of $0.35 per share.
- This quarter represents our seventh consecutive quarter of dividend coverage; a record we are quite proud of in the current market environment when many BDCs are struggling. We are pleased to continue to provide our stockholders consistent, strong quarterly results, a solid quarterly dividend and a very stable book value in a challenging market environment, when many of our BDC peers have experienced significant realized and unrealized losses and declines in both NAV and net investment income.
- We believe the Company has a solid, well performing investment portfolio, evidenced by zero exposure to the Metals and Mining and the Oil and Gas Exploration & Production industries, as designated by Standard and Poor's, which have experienced significant performance issues and increased defaults.
- We have recently begun the process to take advantage of the new legislation allowing an upsize in the SBIC family of funds limitation and hope to be in a position to access additional SBA-guaranteed debentures on behalf of the Company in the coming months. Our current expectation is, pending SBA approval, to allocate up to an additional $80 million of SBA-guaranteed debentures to the Company, the terms of which are very favorable to the Company.
"bet they don't have 66.67% yes votes needed!"......OMG, WRONG AGAIN. No suprise,
I told you!! And yes...you ere wrong yet again!
Of the 2,305,304 shares eligible to vote as of the record date, 1,883,811 affirmative votes, or 81.7%, were cast in favor of the merger, exceeding the requirement for approval of 1,544,554 votes, or 66.7%, by 339,257 votes.
Disregard the uninformed at this board who have "tried" to crunch numbers & tell you what's fair and what's not. Who do you believe, the paid professional with real & accurate data or a clown?
Always see a few law firms file suits when it comes to these things, but all is quiet here right now. Must think it's a fair offer per 150+ page brief. Also, didn't a little doggie talk about confronting the BoD via a Richmond law firm he was in contact with? More hot air?