MVC Capital Receives $12 Million Distribution from Summit Research Labs
MVC Capital, Inc. (NYSE: MVC) today announced that the Board of Directors of Summit Research Labs, Inc. , an MVC portfolio company, approved a recapitalization, resulting in a $12 million dividend to be paid to the Fund as of March 7, 2012. This provides the Fund with operating income of approximately $0.50 per share.
With the receipt of this $12 million distribution, and taking into account the first quarter of 2012 total operating income of $3.6 million, the Fund has already earned over 97% of fiscal 2011 total operating income within the first five months of fiscal 2012.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.