Fifth Street Finance Corp. (NASDAQ:FSC) Announces FY2015 and 4Q2015 Reports and Monthly Dividend

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Fifth Street Finance Corp. (NASDAQ:FSC) has announced that it would offer a monthly dividend of $0.06 in February 2016. Stockholders of record on February 12 would be eligible for the payout to be released on February 26. This amounts to a yearly dividend of $0.72. Fifth Street also released its 4Q2015 earnings report, announcing net investment income of $28.2 million, which equates to $0.18 per share. The highlight of the report was, however, the company’s repurchasing of $20 million worth common shares.

FSC also revealed its FY2015 report, with a net income of $114.9 million, leading to an EPS of $0.75. These figures were slightly lower than that of the previous year, when the company reported EPS of $1. Furthermore, net losses for the FY2015 stood at $99.5 million. However, FSC did manage to increase its net assets by $15.4 million, compared to $112.5 million in the preceding year.

Fifth Street Finance Corp. (NASDAQ:FSC) also announced that at the end of the FY2015, the company had a total $143.5 million in cash and $2.4 billion worth portfolio investments. This was also accompanied by a debt of $427.3 million and $115 million worth convertible notes. Although figures for cash and investment portfolio saw an increase from the previous year, but so did the figures for company debt. However, a small improvement was seen in the figures for convertible notes, owing to the company’s share repurchase program.

Analysts have been quick to weigh in on these developments and have awarded the stock an average rating of hold. Additionally, the analysts have also suggested the stock to reach an average price target of $7.93, with a fluctuation margin of $0.88. Coupled with this the company has also disclosed insider buying activity to the SEC. FSC director, Castro-Blanco James, had purchased a total of 3,000 shares of FSC shares on September 28.

Fifth Street Finance Corp. (NASDAQ:FSC) lost $0.04 of its share price, to close at $6.34, at the end of the December 3 session.

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