Corporate Capital Trust, Inc. Reports Fourth Quarter and Full Year 2017 Results
06 Marzo 2018 - 5:45AM
Business Wire
Corporate Capital Trust, Inc. (NYSE:CCT), a leading business
development company, announced its operating results for the
quarter and year ended December 31, 2017.
This press release features multimedia. View
the full release here:
http://www.businesswire.com/news/home/20180306005595/en/
Financial Highlights for the Quarter Ended December 31,
2017
- Net investment income of $0.38 per
share, compared to $0.39 per share for the quarter ended December
31, 2016
- Paid regular cash dividends to
stockholders totaling $0.40 per share
- Paid special cash dividend to
stockholders totaling $0.10 per share
- Total purchases of $415.9 million
versus $435.8 million of sales and redemptions
- Net asset value of $19.55 per share,
compared to $20.01 per share as of September 30, 2017
Financial Highlights for the Year Ended December 31,
2017
- Net investment income of $1.54 per
share, compared to $1.55 per share for the year ended December 31,
2016
- Paid regular cash dividends to
stockholders totaling $1.71 per share
- Paid special cash dividend to
stockholders totaling $0.10 per share
- Total purchases of $1,784.6 million
versus $1,899.3 million of sales and redemptions, which included
$373 million of investments sold to Strategic Credit Opportunities
Partners, LLC (“SCJV”), a joint venture between CCT and Conway
Capital, LLC
“Following the listing of CCT’s shares on the New York Stock
Exchange in November, the Company remains focused on capital
preservation, delivering a stable dividend and strong alignment
with our shareholders,” said Todd Builione, CCT’s Chief Executive
Officer. “We will continue to be disciplined investors, leveraging
the scale and breadth of KKR’s private credit platform to deliver
strong risk-adjusted returns.”
Declaration of Regular and Special Dividend
CCT’s board of directors has declared a regular cash dividend of
$0.40219 per share for the first quarter. The quarterly dividend
will be payable on April 6, 2018 to stockholders of
record as of the close of business on March 29, 2018.
The board of directors has also declared a special cash dividend
of $0.10125 per share. The special dividend will be
payable on May 21, 2018 to stockholders of record as of
the close of business on May 14, 2018.
Share Repurchase Program
In February 2018, CCT’s board of directors authorized a stock
repurchase program. Under the program, CCT may repurchase up to $50
million in the aggregate of its outstanding common stock in the
open market at prices below the current net asset value per share.
The timing, manner, price and amount of any share repurchases will
be determined by CCT, in its discretion, based upon the evaluation
of economic and market conditions, CCT’s stock price, applicable
legal and regulatory requirements and other factors. The program
does not require CCT to repurchase any specific number of shares
and CCT cannot assure stockholders that any shares will be
repurchased under the program. The program may be suspended,
extended, modified or discontinued at any time.
Conference Call Information
A conference call to discuss CCT’s financial results will be
held on Tuesday, March 6, 2018 at 10:00 a.m. ET. The conference
call may be accessed by dialing (833) 818-6808 (U.S. callers) or +1
(409) 350-3502 (non-U.S. callers); a passcode is not required.
Additionally, the conference call will be broadcast live over the
Internet and may be accessed through the Investor Relations section
of CCT’s website at
http://corporatecapitaltrust.com/investor-relations/events-presentations/.
A replay of the call will be available on CCT’s website or by
dialing (855) 859-2056 (U.S. callers) or +1 (404) 537-3406
(non-U.S. callers), pass code 3787778, beginning approximately two
hours after the broadcast.
Supplemental Information
An investor presentation of financial information will be made
available prior to the call in the Investor Relations section of
CCT’s website at
http://corporatecapitaltrust.com/investor-relations/events-presentations/
under Events & Presentations.
About Corporate Capital Trust
Corporate Capital Trust is a business development company that
provides investors an opportunity to access middle market direct
lending investments. The Company is externally managed by KKR
Credit Advisors (US) LLC, a subsidiary of KKR & Co. LP, and its
investment objective is to provide shareholders with current income
and, to a lesser extent, long-term capital appreciation. The
Company intends to meet its investment objective by investing
primarily in the debt of privately owned companies, with a focus on
originated transactions. For additional information, please visit
www.corporatecapitaltrust.com.
Forward-Looking Statements
The information in this press release may include
“forward-looking statements.” These statements are based on the
beliefs and assumptions of the Company’s management and on the
information currently available to management at the time of such
statements. Forward-looking statements generally can be identified
by the words “believes,” “expects,” “intends,” “plans,” “estimates”
or similar expressions that indicate future events. Important
factors that could cause actual results to differ materially from
the Company’s expectations include the factors disclosed in the
Company’s filings with the SEC, including the Company’s annual
report on Form 10-K for the year ended December 31, 2016, which was
filed with the SEC on March 20, 2017. The Company undertakes no
obligation to update such statements to reflect subsequent
events.
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version on businesswire.com: http://www.businesswire.com/news/home/20180306005595/en/
For Corporate Capital Trust, Inc.Media:Kristi
Huller or Cara Majormedia@kkr.comorInvestor Relations:Danny
McMahon or Donna BassCCT-IR@kkr.com
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