KCAP Financial, Inc. Announces Third Quarter 2016 Financial Results
NEW YORK, Nov. 02, 2016 (GLOBE NEWSWIRE) -- KCAP Financial, Inc. (Nasdaq:KCAP) (the "Company") announces ist third quarter 2016 financial results.
Financial Highlights
l Net investment income for the third quarter ended September 30, 2016 was approximately $4.5 million, or $0.12 per basic share, compared with approximately $6.5 million, or $0.18 per basic share in the quarter ended September 30, 2015.
l Taxable distributable income for the quarter was $0.12 per basic share.
l KCAP Financial, Inc. declared a third quarter shareholder distribution of $0.15 per share.
l At September 30, 2016, the fair value of KCAP's investments totaled approximately $372 million.
l Net asset value per share of $5.38 as of September 30, 2016, compared with $5.82 at December 31, 2015.
Dayl Pearson, President and Chief Executive Officer of KCAP Financial, Inc., noted, "Continued positive momentum in the markets has resulted in increased portfolio repayments, including the realization of an attractive gain on a warrant. This positions KCAP to prudently deploy the proceeds in a competitive market."