FS KKR Capital Corp (FS Investment Corporation) - 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on November 7, 2014, reporting events occurring on November 6, 2014. The registrant, FS Investment Corporation, is a Maryland corporation reporting under Item 2.02 regarding Results of Operations and Financial Condition, specifically focusing on dividend declarations and policy changes.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures for the period. The primary financial metric disclosed is the declaration of a regular monthly cash distribution of $0.07425 per share.
Material Changes
- Distribution Frequency Change: The Board approved a change in the distribution schedule from monthly to quarterly, effective January 1, 2015.
- Current Distribution: A monthly distribution of $0.07425 per share was declared, payable on or about December 2, 2014, to stockholders of record as of November 20, 2014.
Guidance, Outlook, and Risks
Management stated that future distributions are subject to applicable legal restrictions and the sole discretion of the Board, with no assurance regarding future amounts or timing. The filing includes standard forward-looking statement disclaimers regarding economic changes, operational disruptions, terrorism, natural disasters, and regulatory changes. Regarding tax attributes, the Company noted that quarterly distribution characteristics may not represent full-year tax attributes, which will be reported annually on Form 1099-DIV.
Investor Verification Checklist
- Verify the record date of November 20, 2014, for eligibility for the $0.07425 per share distribution.
- Confirm the implementation of the quarterly distribution schedule starting January 1, 2015.
- Review future filings for the estimated percentage of distributions derived from taxable ordinary income.
- Monitor the Company's annual Form 1099-DIV for final tax characterization of distributions.