Capitala Finance reports Q3 EPS 18c, consensus 24c
Total investment income was $10.1 million for the third quarter of 2019, compared to $11.5 million in the third quarter of 2018. Interest and fee income was $2.2 million lower in third quarter of 2019 as compared to 2018, partially offset by an increase of $1.1 million in dividend income for the comparable periods. Dividend income for the third quarter of 2019 included $0.8 million from Micro Precision, LLC and $0.3 million from Capitala Senior Loan Fund II, LLC. In describing the Company's third quarter activities, Joseph B. Alala, III, Chairman and Chief Executive Officer, stated, "During the third quarter of 2019, we earned a 4.5% return on equity. We anticipate closing several new investments prior to year-end, providing support to net investment income after two quarters of net repayments. Platform liquidity will allow us to remain active investors in the lower middle market. Our investment adviser's recently announced partnership with Mitsui USA is expected to provide the Capitala platform, including Capitala Finance Corp., with additional resources for the growth of our credit and equity strategies focused on investing in small businesses located across North America."