MVC Capital, Inc. announced delayed annual 10-K filing
Jan 14 15
On 01/14/2015, MVC Capital, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.
MVC Capital, Inc. Enters into Six Month $25 Million Non-Revolving Credit Facility with Firstrust Bank
Jan 6 15
MVC Capital, Inc. entered into a six month, $25 million non-revolving credit facility with Firstrust Bank. That same day, the fund borrowed $15.9 million under the credit facility to partially finance investments in certain senior subordinated loans. The credit facility will expire on June 30, 2015, at which time all outstanding amounts under the credit facility will be due and payable. Borrowings under the credit facility bear interest at a fixed rate of 5% with a guaranteed payment of 90 days of interest. In addition, the fund was subject to a loan fee of 1% of the commitment amount paid at closing. Borrowings under the credit facility are subject to certain collateral requirements, which include a first position security lien on substantially all of the fund's senior and subordinated promissory note investments.
MVC Capital, Inc. Declares First Quarter Dividend, Payable on January 7, 2015
Dec 19 14
MVC Capital, Inc. announced that its board of directors has declared a first quarter dividend of $0.135 per share. The dividend is payable on January 7, 2015 to shareholders of record on December 31, 2014.
MVC Capital, Inc. Declares Quarterly Dividend, Payable on October 31, 2014
Oct 17 14
MVC Capital, Inc. announced that its board of directors has declared a quarterly dividend of $0.135 per share. The dividend is payable on October 31, 2014 to shareholders of record on October 27, 2014.
MVC Capital, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended July 31, 2014
Sep 9 14
MVC Capital, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended July 31, 2014. For the quarter, total interest income was $2,193,825 against $1,702,698 a year ago. Total operating income was $5,016,415 against $7,245,274 a year ago. Net operating income before taxes was $1,030,668 against $2,126,060 a year ago. Net operating income was $1,030,229 against net operating loss of $2,126,960 a year ago. Net realized gain on investments was $2,671,752 against $247,457 a year ago. The decrease in operating income over the same period last year was primarily due to a reduction in dividend income from portfolio companies, specifically U.S. Gas & Electric as it did not pay a quarterly dividend in the fiscal third quarter 2014. The decrease in operating income was partially offset by an increase in interest income from more yield generating portfolio companies as the company continues to execute on its transition.
For the nine months, total interest income was $7,485,117 against $5,616,137 a year ago. Total operating income was $15,492,025 against $20,294,191 a year ago. Net operating income before taxes was $4,079,377 against $50,157 a year ago. Net operating income was $4,078,061 against $47,457 a year ago. Net realized gain on investments was $3,156,463 against $43,462,067 a year ago.