Garrison Capital Inc. Declares Fourth Quarter 2019 Distribution of $0.15 Per Share and Announces Third Quarter 2019 Financial...
12 Novembre 2019 - 10:37PM
Garrison Capital Inc. (the “Company”), a business development
company (Nasdaq: GARS), today announced its financial results for
the third quarter and three months ended September 30, 2019. Net
investment income for the third quarter was $3.4 million, or $0.21
per share, and the net decrease in net assets resulting from
operations was $16.5 million, or $1.03 per share. The
Company’s Board of Directors (the “Board of Directors”) declared a
fourth quarter dividend of $0.15 per share payable on December 20,
2019 to stockholders of record as of December 6, 2019.
The Board of Directors has decided to explore a
variety of strategic alternatives that may be available to the
Company. To assist the Company with this process, the Board of
Directors has retained Keefe, Bruyette & Woods (“KBW”) as its
financial advisor and investment banker. While the Company is
actively working with KBW to explore these options and is
committed to taking actions that it believes will maximize
stockholder value, there is no assurance that the Company will
execute on any of them. No specific timetable or formal process has
been set, and the Company does not expect to provide updates on the
process unless and until the Board of Directors has approved a
specific transaction or otherwise deems disclosure appropriate or
necessary.
The Company issued a full detailed presentation
of its third quarter 2019 results, which can be viewed at
www.garrisoncapitalbdc.com.
Earnings Conference CallThe
Company will host an earnings conference call at 3:00 p.m. (Eastern
Time) on Thursday, November 14, 2019, to discuss its third quarter
financial results. All interested parties are welcome to
participate. The conference call can be accessed at the following
dial-in number: (888) 588-0798. International callers can access
the conference call by dialing (706) 634-6548. All participants
will need to enter the Conference ID 7076389. All
participants are asked to dial-in to the conference call 10-15
minutes prior to the call so that their name and company
information can be collected.
During the earnings conference call, the Company
intends to refer to the Q3 2019 Garrison Capital Inc. Earnings
Presentation, which will be available prior to the conference call
on the Investor Relations section of the Company’s website
(www.garrisoncapitalbdc.com) under Webcasts &
Presentations.
An archived replay of the call will be available
within two hours after the call until 11:59 p.m. (Eastern Time) on
December 14, 2019. To hear the replay, please dial (855) 859-2056.
International callers, please dial (404) 537-3406. For all replays,
please enter the Conference ID 7076389.
ABOUT GARRISON CAPITAL INC.
Garrison Capital Inc. is a business development company that
primarily invests in loans to U.S. based middle-market companies.
The Company’s investment activities are managed by its investment
adviser, Garrison Capital Advisers LLC, an affiliate of Garrison
Investment Group LP (“Garrison Investment Group”). For more
information, go to http://www.garrisoncapitalbdc.com.
ABOUT GARRISON INVESTMENT GROUP
Garrison Investment Group is an alternative investment and asset
management firm founded in March 2007. Garrison Investment Group
invests opportunistically in the debt of middle-market companies,
primarily in the areas of corporate finance, real estate finance
and structured finance. For more information, go to
http://www.garrisoninv.com.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those expressed or implied in the
forward-looking statements as a result of a number of factors,
including those described from time to time in filings with the
Securities and Exchange Commission. The Company undertakes no duty
to update any forward-looking statement made herein. All
forward-looking statements speak only as of the date of this press
release.
Contact:
Garrison Capital Inc.Brian
Chasewww.garrisoncapitalbdc.com(212) 372-9590
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