BlackRock Capital Investment Corporation (BKCC) will report its first quarter earnings for 2021 on April 29, after market close. A webcast will follow on April 30 at 10:00 a.m. ET for discussion of the financial results. Investors can join the teleconference by dialing the designated numbers prior to the call. Replay options for the teleconference and webcast will be available starting April 30 until May 14. BlackRock Capital focuses on providing debt and equity capital to middle-market companies, aiming for income generation and capital appreciation.
BlackRock Capital Investment Corporation (BKCC) declared a quarterly cash dividend of $0.10 per share, payable on April 7, 2021. The firm reported significant progress in reducing non-core and junior capital exposure in its portfolio, with net investment income (NII) of $7.3 million for Q4 2020. The company's leverage decreased to approximately 0.43x, down from 0.98x in Q3. Despite a 10.4% decline in total investment income, NAV increased to $315 million. The firm plans to optimize its capital structure while acknowledging potential NII compression in the near future.
BlackRock Capital Investment Corporation (BKCC) reported preliminary financial estimates for Q4 2020, highlighting a Net Asset Value (NAV) of $315 million, an increase of 2.8% from Q3 2020. The NAV per share slightly declined by 0.2% to $4.23. The Net Investment Income (NII) per share is estimated at $0.10. The company significantly reduced net leverage to 0.51x from 0.98x in Q3 2020. Key portfolio updates include the sale of non-core assets and debt repayments, indicating progress in strategic objectives regarding capital exposure.
BlackRock Capital Investment Corporation (NASDAQ: BKCC) has appointed Nik Singhal as President and Abby Miller as Chief Financial Officer, effective November 3, 2020, and November 9, 2020, respectively. Singhal, a Managing Director at BlackRock, has a track record in managing corporate loans, while Miller has served as the Company's financial controller since 2017. The change follows the planned retirement of Michael Pungello, who will continue in an advisory role until March 2021. The Company focuses on providing capital to middle-market companies through debt and equity investments.
BlackRock Capital Investment Corporation (BKCC) declared a quarterly distribution of $0.10 per share, payable on December 30, 2020. Shareholders can choose to receive their distributions in cash or stock, with cash limited to 20% of total distributions. The company has reduced its non-core investments significantly, freeing up approximately $62 million in cash. Despite a decrease in net asset value (NAV) per share to $4.24, the company has seen a 17-cent increase in the value of core investments during the last quarter. The advisor waived $1.5 million in incentive fees, demonstrating financial prudence.
BlackRock Capital Investment Corporation (BKCC) will announce its third quarter 2020 earnings on November 4, 2020, after market close. A conference call is scheduled for November 5, 2020, at 10:00 a.m. ET to discuss the financial results. Interested participants can join via phone or through a live webcast on the company's investor relations page. The call will be available for replay starting the same day. Founded in 2005, BKCC focuses on providing capital to middle-market companies.