Allied Capital Lending Corp. announces third quarter results.WASHINGTON--(BUSINESS WIRE)--Nov. 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 third quarter results Tuesday Tuesday: see week. . For the three months ended Sept. 30, 1995, net income increased by 7% to $1.4 million, or 32 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 $1.3 million, or 30 cents per share, for the same quarter in 1994. Net investment income increased by 27% over the comparative quarter in 1994. For the nine months ended Sept. 30, 1995, Allied Capital Lending Corp. reported earnings of $4 million, or $0.91 per share, an 18% increase over earnings of $3.4 million, or 77 cents per share, for the same nine month period in 1994. Year to date, net realized income before net unrealized appreciation or depreciation increased by 22% over last year as the company 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. During the third 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. $16 million in new loans. After repayments and loan sales, the company had total investments of $45 million, a 14% increase over total investments at June June: see month. 30, 1995. At Sept. 30, 1995 the company has $31 million in outstanding loan commitments. "We set an all-time all-time adj. Exceeding all others up to the present time: an all-time speed skating record. all-time Adjective Informal record for new loan originations The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. during the third quarter," said Katherine Katherine “intolerably curst and shrewd and froward.” [Br. Lit.: The Taming of the Shrew] See : Shrewishness Marien, president and portfolio manager. "Our capacity for future growth can be measured by our commitment to developing our network of Regional Associates. We are already more efficient than most banks, and by creating a local presence in every major market in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. over the next five years, we can be even more competitive with the regional banks." With the recent changes at the SBA, Allied Capital Lending is again funding $1 million loans with full 75% SBA guarantees, applying for preferred lender LENDER, contracts. He from whom a thing is borrowed. 2. The contract of loan confers rights, and imposes duties on the lender. 1. The lender has the right to revoke the loan at his mere pleasure; 9 Cowen, R. 687; 8 Johns. Rep. 432; 1 T. R. 480; 2 Campb. Rep. status nationwide, and reviewing requests for debt refinancings, all of which were previously curtailed by SBA regulation. In addition, program participants have been assured that the SBA 7(a) program will receive 1996 funding sufficient to allow a significant increase in guaranteed loan levels over 1995, which demonstrates the government's commitment to the program. "All of these positive changes encouraged the board of directors to increase the quarterly dividend, for a fourth time this year, to $0.30 per share," Marien remarked. -0-
(in thousands, except per share amounts)
Per Per
(Unaudited) 9/30/95 Share 12/31/94 Share(1)
------- ----- -------- -------
Financial Position
Information
------------------
Total investments $ 45,106 -- $32,771 --
Total assets 51,156 -- 37,619 --
Shareholders' equity
(NAV) 33,230 $ 7.59 32,788 $ 7.49
3 mos. ended 3 mos. ended
Per Per
9/30/95 Share 9/30/94 Share(1)
------- ------ ------- --------
Operating Information
---------------------
Net investment income $ 1,580 $ 0.36 $ 1,242 $ 0.28
Net realized losses (114) (0.03) (8) (0.00)
---- ---
Net realized income 1,466 0.33 1,234 0.28
Net unrealized
apprec/(deprec) (64) (0.01) 74 0.02
--- ---
Net income $ 1,402 $ 0.32 $ 1,308 $ 0.30
======= =======
Actual shares
outstanding 4,381 -- 4,368 --
Weighted avg.
shares outstanding 4,381 -- 4,381 --
Distributions to Shareholders ---------------- Regular dividends -- $ 0.29 -- $ 0.25
9 mos. ended 9 mos. ended
Per Per
9/30/95 Share 9/30/94 Share(1)
------- ------ ------- --------
Operating Information
---------------------
Net investment income $ 4,205 $ 0.96 $ 3,328 $ 0.76
Net realized losses (153) (0.04) (16) (0.00)
---- ---
Net realized income 4,052 0.92 3,312 0.76
Net unrealized
apprec/(deprec) (57) (0.01) 79 0.01
---- --
Net income $ 3,995 $ 0.91 $3,391 $ 0.77
======= ======
Actual shares
outstanding 4,381 -- 4,368 --
Weighted avg.
shares outstanding 4,381 -- 4,381 --
Distributions to Shareholders ---------------- Regular dividends -- $ 0.8425 -- $ 0.75 (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 for Fourth Time in 1995 At their most recent meeting, the board of directors of Allied Capital Lending Corp. increased the company's quarterly cash dividend by 3.4% from 29 cents to 30 cents per share. This is the fourth increase in the company's regular quarterly dividend this year. The dividend is payable on Dec. 29, 1995 to shareholders of record as of Dec. 15, 1995. Stockholders Approve Proposals at Special Meeting At the Special Meeting of Stockholders held in Bethesda Bethesda, city, United States Bethesda, uninc. city (1990 pop. 62,936), Montgomery co., W central Md., an affluent residential and commercial suburb of Washington, D.C. The area was settled in the late 17th cent. , Md. on Nov. 9, 1995, stockholders approved amendments to the company's investment objective as well as one of its investment policies. These changes are related to Allied Capital Lending's expanded "product line" of small business loans, including its ability to make loans other than those guaranteed by the SBA, loans made in conjunction conjunction, in astronomy conjunction, in astronomy, alignment of two celestial bodies as seen from the earth. Conjunction of the moon and the planets is often determined by reference to the sun. with guaranteed loans, and other non-SBA related investments. -0- Allied Capital Lending Corp. is a publicly traded 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. and traded on Nasdaq National Market, symbol ALCL. The company is engaged in making loans of up to $2 million to small, private businesses primarily through Small Business Administration (SBA) loan programs. A recent quote of the stock was $12 1/2. There are 4,380,999 total shares outstanding. Allied Capital Lending Corp. pays a regular quarterly cash dividend of 30 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 202/973-6334 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, 202/973-6334 |
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