Allied Capital Corporation II announces second quarter results.WASHINGTON--(BUSINESS WIRE)--Aug. 14, 1995--Allied Capital Corporation II (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALII) announced second quarter results Monday Monday: see week. . For the three months ended June June: see month. 30, 1995, net income, which includes unrealized appreciation and depreciation in the portfolio, increased by 112% to $5.6 million, or 81 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , from $2.6 million, or 38 cents per share, for the comparative quarter in 1994. Net investment income was up by 29% over the second quarter of 1994, and realized gains Realized Gain A gain resulting from selling an asset at a price higher than the original purchase price. Notes: There may be tax consequences for a realized profit. were down from the prior comparative period. Net unrealized appreciation on the portfolio for the quarter ended June 30, 1995 was $3.6 million, as compared to $596,000 for the comparative quarter in 1994. William William, crown prince of Germany William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack Dunbar Dunbar, town (1991 pop. 6,015), East Lothian, SE Scotland, on the North Sea. It is a fishing center and seaside resort. Dunbar Castle was held by "Black Agnes," countess of Dunbar, against a six-week siege by the English in 1338. , president, stated, "There are several investments in the company's portfolio that the board of directors believes are currently worth more than the company's cost, and this unrealized appreciation indicates that there is potential for significant capital gains in the future. "The appreciation of the portfolio is particularly strong for companies in broadcasting, manufacturing, and specialty retailing. The strength in the public market has benefitted our portfolio as Garden Ridge
For the six months ended June 30, 1995 Allied Capital Corporation II reported earnings of $8.6 million, or $1.24 per share, a 110% increase over earnings of $4.1 million, or $0.59 per share, for the same six month period in 1994. Year to date, net investment income has increased by 39% over last year, and net realized income before unrealized appreciation or depreciation has increased by 18%. "With the increase we've we've Contraction of we have. we've have seen in our net investment income, we were able to increase our dividend for the second quarter, and have just increased it again for the third quarter," Dunbar stated. During the second quarter of 1995, Allied Capital Corporation II invested approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $6 million in new or existing portfolio companies. The company slowed its investment activity during the quarter because many of the opportunities presented were perceived per·ceive tr.v. per·ceived, per·ceiv·ing, per·ceives 1. To become aware of directly through any of the senses, especially sight or hearing. 2. To achieve understanding of; apprehend. as not yielding a high enough return relative to risk. After repayments and changes in valuations, the company increased its total investments in small businesses by approximately $5.2 million for the second quarter of 1995. At June 30, 1995, investments in small businesses totaled 94% of the company's total assets. -0-
(in thousands, except per share amounts)
Per Per
(Unaudited) 6/30/95 Share 12/31/94 Share
------- ----- -------- -----
Financial Position
Information
------------------
Total investments $ 97,662 -- $ 88,130 --
Total assets 104,336 -- 101,934 --
Shareholders' equity
(NAV) 102,558 $ 14.78 97,475 $14.05
-0-
3 mos. ended 3 mos. ended
Per Per
6/30/95 Share 6/30/94 Share
------- ----- ------- -----
Operating Information
---------------------
Net investment income $ 1,979 $ 0.28 $ 1,530 $ 0.22
Net realized gains 56 0.01 540 0.08
-- ---- --- ----
Net realized income 2,035 0.29 2,070 0.30
Net unrealized
appreciation 3,613 0.52 596 0.08
----- ---- --- ----
Net income $ 5,648 $ 0.81 $ 2,666 $ 0.38
======= ====== ======= ======
Actual shares outstanding 6,938 -- 6,938 -- Weighted avg. shares outstanding 6,963 -- 6,938 -- Distributions to Shareholders ---------------- Regular dividends -- $ 0.27 -- $ 0.25
-0-
6 mos. ended 6 mos. ended
Per Per
6/30/95 Share 6/30/94 Share
------- ------ ------- ------
Operating Information
---------------------
Net investment income $ 4,111 $ 0.59 $ 2,952 $ 0.42
Net realized gains 96 0.02 620 0.09
--- ---- ----- ----
Net realized income 4,207 0.61 3,572 0.51
Net unrealized
appreciation 4,384 0.63 525 0.08
----- ---- --- ----
Net income $ 8,591 $ 1.24 $ 4,097 $ 0.59
======= ====== ======= ======
Actual shares outstanding 6,938 -- 6,938 -- Weighted avg. shares outstanding 6,952 -- 6,938 -- Distributions to Shareholders ---------------- Regular dividends -- $ 0.52 -- $ 0.50-0- Quarterly Cash Dividend Increased At the most recent meeting, the board of directors of Allied Capital Corporation II increased the company's quarterly cash dividend by 7.4% to 29 cents per share. This is the second increase in the company's regular quarterly dividend this year. The dividend is payable on Sept. 29, 1995 to shareholders of record as of Sept. 15, 1995. -0- Allied Capital Corporation II is a business development company, headquartered in Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. , D.C., traded on Nasdaq National Market, symbol ALII. A recent quote of the stock is $15.75. There are 6,938,191 total shares outstanding. Allied Capital II pays a regular quarterly cash dividend of 29 cents per share and has paid an extra cash distribution each year since inception INCEPTION. The commencement; the beginning. In making a will, for example, the writing is its inception. 3 Co. 31 b; Plowd. 343. Vide Consummation; Progression. . For 1994, Allied Capital II distributed a total of $1.34 per share to shareholders; for 1993, distributions totaled $1.22 per share; for 1992, distributions totaled $1.15 per share. Allied Capital II's stock is marginable. For additional information or a copy of the company's annual report, please contact Allied Capital's Investor Relations Investor relations The process by which the corporation communicates with its investors. Department at 202/331-1112 or fax to 202/659-2053. CONTACT: Allied Capital, Washington Suzanne Suzanne is a common female given name that was particularly popular in the United States in the 1950s and 1960s. It remained in the top 200 most popular names in the United States between 1930 and the late 1980s. Sparrow, 202/331-1112 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion