Allied Capital Lending Corp. announces second quarter results.WASHINGTON--(BUSINESS WIRE)--Aug. 14, 1995--Allied Capital Lending Capital lending is the process of a large company, or corporation, offering financing on large "ticket" items to encourage the customer to purchase that item. Many major corporations have set up finance divisions, or subsidiaries, to help the customer purchase their product over Corp. (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 :ALCL ALCL Anaplastic Large Cell Lymphoma ALCL Assembly Line Communications Link ) announced second quarter results Monday Monday: see week. . For the three months ended June June: see month. 30, 1995, net income increased to $1.25 million, or 29 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 $1.23 million, or 28 cents per share, for the same quarter in 1994. For the six months ended June 30, 1995 Allied Capital Lending Corp. reported earnings of $2.6 million, or 59 cents per share, a 24% increase over earnings of $2.1 million, or 48 cents per share, for the same six month period in 1994. Year to date, net investment income before net unrealized appreciation has increased by 24% over last year as the company has continued to leverage its assets, sell the guaranteed portions of its SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government guaranteed loans, and make additional loans to small, private businesses. Katherine Katherine “intolerably curst and shrewd and froward.” [Br. Lit.: The Taming of the Shrew] See : Shrewishness Marien, president, commented, "Second quarter earnings were not as high as I would have liked due to fewer loan sales during the second quarter. This was the result of slow originations in the first quarter of 1995, a factor that has turned around during the last three months." During the second quarter of 1995, Allied Capital Lending Corp. originated approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $13 million in new loans. After repayments and loan sales, the company increased its total investments by approximately $7 million. "Our investment pace was strong this quarter and with the two new regional associates we signed in Phoenix, Ariz. and Portland Portland, town, England Portland, town (1991 pop. 12,945), Dorset, S England. It is on the Isle of Portland, a small rocky peninsula. Portland stone has been used in St. Paul's Cathedral and other important London buildings. Lobsters and crabs are harvested. , Ore. we look forward to an increasing stream of new loan opportunities," said Marien. -0-
(in thousands, except per share amounts)
Per Per
(Unaudited) 6/30/95 Share 12/31/94 Share(1)
------- ----- -------- -------
Financial Position
Information
------------------
Total investments $ 39,686 -- $32,771 --
Total assets 44,774 -- 37,619 --
Shareholders' equity
(NAV) 33,053 $ 7.55 32,788 $ 7.49
-0-
3 mos. ended 3 mos. ended
Per Per
6/30/95 Share 6/30/94 Share(1)
------- ------ ------- --------
Operating Information
---------------------
Net investment income $ 1,231 $ 0.28 $ 1,213 $ 0.28
Net realized gains
(losses) (48) (0.01) 8 0.00
---- ---
Net realized income 1,183 0.27 1,221 0.28
Net unrealized
appreciation 65 0.01 7 0.00
--- ---
Net income $ 1,248 $ 0.29 $ 1,228 $ 0.28
======= =======
Actual shares outstanding 4,377 -- 4,375 -- Weighted avg. shares outstanding 4,377 -- 4,375 -- Distributions to Shareholders ---------------- Regular dividends -- $ 0.2825 -- $ 0.25
-0-
6 mos. ended 6 mos. ended
Per Per
6/30/95 Share 6/30/94 Share(1)
------- ------ ------- --------
Operating Information
---------------------
Net investment income $ 2,625 $ 0.60 $ 2,086 $ 0.48
Net realized gains (38) (0.01) (8) 0.00
------ ------
Net realized income 2,587 0.59 2,078 0.48
Net unrealized
appreciation 6 0.00 6 0.00
--- ---
Net income $ 2,593 $ 0.59 $2,084 $ 0.48
======= ======
Actual shares outstanding 4,377 -- 4,375 -- Weighted avg. shares outstanding 4,377 -- 4,375 -- Distributions to Shareholders ---------------- Regular dividends -- $ 0.5525 -- $ 0.50 (1) The weighted average number of shares and share equivalents outstanding and per share computations for the prior periods presented have been restated to include the issuance of common stock pursuant to the company's dividend reinvestment plan in 1995.-0- Quarterly Cash Dividend Increased At their most recent meeting, the board of directors of Allied Capital Lending Corp. increased the company's quarterly cash dividend from $0.2825 to $0.29 per share. This is the third 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 Lending Corp. is a publicly traded small business lending 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. and traded on Nasdaq National Market, symbol ALCL. A recent quote of the stock was $13.00. There are 4,377,334 total shares outstanding. Allied Capital Lending Corp. pays a regular quarterly cash dividend of 29 cents per share and an annual extra cash dividend which is determined at year end. For 1994, the company paid a total of $1.08 per share including an extra cash dividend of 6 cents per share. For additional information or for 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 |
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