PURCHASE, N.Y., May 16, 2016 (GLOBE NEWSWIRE) — MVC Capital, Inc. (NYSE:MVC), a publicly traded business development company that makes private debt and equity investments, today announced its financial results for the fiscal fourth quarter and fiscal year ended October 31, 2015 and the fiscal first quarter ended January 31, 2016.
Recent Highlights
- Up to date on financial statement filings
- Earned interest income of $5.0 million in the first quarter of 2016, compared to $4.3 million for the first quarter of 2015; interest income of $5.5 million for the fourth quarter of 2015, compared to $3.5 million in the fourth quarter of 2014
- Completed the sale of Ohio Medical Corporation for $40 million1
- Secured a $50 million revolving credit facility
- Paid 43rd consecutive quarterly dividend of $0.135 per share or $3.1 million to investors on January 8, 2016
- Paid special dividend of $0.17 per share or $3.9 million to investors on January 8, 2016
“I am pleased to report that our Fund is now current with our financial statements,†said Michael Tokarz, Chairman & Portfolio Manager of MVC Capital. “As large shareholders ourselves, the Board and I recognize that our Company’s stock performance has not met expectations. With our filings now up-to-date, we can better focus on delivering value to shareholders. The recent asset sales and distributions received, including a $10 million distribution booked in the second quarter of 2016 from a portfolio company, coupled with the closing of our revolving line of credit, should enable us to resume repurchasing our shares opportunistically.â€
Financial Results
