FS KKR Capital NII Hits $0.44, NAV Slips to $18.30; Q3 Distribution Set at $0.44
FSK sits 18% above its 52-week low of $9.72.
Summary
FS KKR Capital reported Q2 net investment income of $0.44 per share, up from $0.42 in Q1, covering the newly declared $0.44 Q3 distribution. NAV per share slipped to $18.30 from $18.83, but net realized and unrealized losses narrowed sharply to $0.56 per share from $2.00. The Q2 net loss per share was $0.13, narrowing from prior periods. Debt-to-equity improved to 127% from 138%, reflecting portfolio sales and repayments. The company also repurchased 3.3 million shares for $36 million at an average $10.75 since July 1, adding to the $300 million buyback program. This follows the May restructuring that included a $150 million KKR preferred investment, a $150 million tender offer, and fee waivers.
Updates
· SEC 8-K — The 8-K attaches the press release and confirms the $0.44 Q3 distribution payable October 2 to holders of record September 16.
At the time of this announcement, FSK was trading at $11.45 on NYSE in the Finance sector, with a market capitalization of approximately $3.1B. The 52-week trading range was $9.72 to $20.41. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.