Garrison Capital Inc. Declares Third Quarter 2020 Distribution of $0.05 Per Share and Announces Second Quarter 2020 Financial Results

Rhea-AI Summary

Garrison Capital Inc. (GARS) reported a net investment income of $1.8 million, or $0.11 per share, for Q2 2020. However, the company experienced a net decrease in net assets of $2.7 million, equivalent to $0.17 per share. The Board declared a third-quarter distribution of $0.05 per share, payable on September 25, 2020, with a record date of September 11, 2020. No earnings conference call will be held to discuss these results. Detailed information is available on the company’s website.

Positive

• Net investment income of $1.8 million for Q2 2020.
• Declared a third-quarter distribution of $0.05 per share.

Negative

• Net decrease in net assets of $2.7 million for Q2 2020.
• Earnings conference call not held, limiting investor communication.

NEW YORK, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Garrison Capital Inc. (the “Company”), a business development company (Nasdaq: GARS), today announced its financial results for the second quarter and three months ended June 30, 2020. Net investment income for the first quarter was $1.8 million, or $0.11 per share, and the net decrease in net assets resulting from operations was $2.7 million, or $0.17 per share. The Company’s Board of Directors declared a third quarter distribution of $0.05 per share payable on September 25, 2020 to stockholders of record as of September 11, 2020.

The Company will not be hosting an earnings conference call to discuss its second quarter financial results.  The Company has issued a full detailed presentation of its second quarter 2020 results, which can be viewed at www.garrisoncapitalbdc.com.

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.
Daniel Hahn
www.garrisoncapitalbdc.com
(212) 372-9508

FAQ

What were the Q2 2020 financial results for Garrison Capital Inc. (GARS)?

Garrison Capital Inc. reported a net investment income of $1.8 million, or $0.11 per share, and a net decrease in net assets of $2.7 million, or $0.17 per share.

When is the next distribution for Garrison Capital Inc. (GARS) stockholders?

The third-quarter distribution of $0.05 per share is set to be paid on September 25, 2020, to stockholders of record as of September 11, 2020.

Will Garrison Capital Inc. (GARS) host an earnings call for Q2 2020?

No, Garrison Capital Inc. will not host an earnings conference call to discuss its Q2 2020 financial results.