Garrison Capital Inc. Declares Second Quarter 2020 Distribution of $0.15 Per Share and Announces First Quarter 2020 Financial Results and Earnings Call

Rhea-AI Summary

Garrison Capital (GARS) reported a net investment income of $2.4 million for Q1 2020, equating to $0.15 per share. However, there was a significant net decrease in net assets of $28.4 million, or $1.77 per share. The Board declared a second quarter dividend of $0.15 per share, payable on June 26, 2020, to shareholders of record as of June 5, 2020. An earnings conference call is scheduled for May 13, 2020, at 10:00 a.m. ET for further discussion of these results.

Positive

• Declared a second quarter dividend of $0.15 per share.

Negative

• Net decrease in net assets of $28.4 million, or $1.77 per share.

NEW YORK, May 11, 2020 (GLOBE NEWSWIRE) -- Garrison Capital Inc. (the “Company”), a business development company (Nasdaq: GARS), today announced its financial results for the first quarter and three months ended March 31, 2020. Net investment income for the first quarter was $2.4 million, or $0.15 per share, and the net decrease in net assets resulting from operations was $28.4 million, or $1.77 per share. The Company’s Board of Directors declared a second quarter dividend of $0.15 per share payable on June 26, 2020 to stockholders of record as of June 5, 2020. 

The Company issued a full detailed presentation of its first quarter 2020 results, which can be viewed at www.garrisoncapitalbdc.com.

Earnings Conference Call
The Company will host an earnings conference call at 10:00 a.m. (Eastern Time) on Wednesday, May 13, 2020, to discuss its first quarter ended March 31, 2020 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 3172814.  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 Q1 2020 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 June 13, 2020. To hear the replay, please dial (855) 859-2056. International callers, please dial (404) 537-3406. For all replays, please enter the Conference ID 3172814.

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 Chase
www.garrisoncapitalbdc.com
(212) 372-9590

FAQ

What were Garrison Capital's net investment earnings for Q1 2020?

Garrison Capital reported net investment income of $2.4 million, or $0.15 per share, for Q1 2020.

What is the dividend announcement for Garrison Capital?

Garrison Capital declared a second quarter dividend of $0.15 per share, payable on June 26, 2020.

What caused the net decrease in net assets for Garrison Capital?

The net decrease in net assets for Garrison Capital was $28.4 million, or $1.77 per share, for the first quarter of 2020.

When will Garrison Capital host its earnings conference call?

Garrison Capital will host its earnings conference call on May 13, 2020, at 10:00 a.m. ET.