FS KKR Capital Corp (FS Investment Corporation) - 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on September 13, 2010, by FS Investment Corporation (FSIC), a Maryland corporation. The report details a Board of Directors decision made on September 15, 2010, regarding shareholder distributions.
Key Financial Metrics
The filing focuses on distribution yields and cash payouts rather than operational revenue or profit metrics.
- Current Public Offering Price: $10.40 per share.
- Previous Semi-Monthly Distribution: $0.03125 per share.
- New Semi-Monthly Distribution: $0.03185 per share (effective October 1, 2010).
- Previous Annual Distribution Yield: 7.2%.
- New Annual Distribution Yield: 7.35%.
- Special One-Time Distribution: $300,000 aggregate amount.
Material Changes
The primary material change is the increase in the semi-monthly distribution rate by $0.00060 per share, resulting in a 0.15 percentage point increase in the annualized yield. Additionally, the company declared a special one-time cash distribution of $300,000.
Guidance, Outlook, and Management Commentary
Management, represented by the Board of Directors, has increased the distribution rate to reflect current market conditions and the company's capital position. The filing does not provide specific forward-looking guidance on revenue, earnings, or debt levels beyond the distribution announcements.
Investor Verification Checklist
- Verify the record dates for the upcoming semi-monthly distributions (September 13 and September 29, 2010) and the special distribution (October 29, 2010).
- Confirm the payment dates: September 30, 2010, for regular distributions and October 29, 2010, for the special distribution.
- Review the attached press release (Exhibit 99.1) for any additional context on the source of funds for the special distribution.
- Note that the filing does not provide data on revenue, net income, cash flow, or debt levels; refer to the most recent 10-Q or 10-K for those metrics.