FSK - FS KKR Capital stock rises 3% after hours on strong Q4 earnings raised distribution

FS KKR Capital ( NYSE: FSK ) stock edged 3.1% higher after the bell on Monday as the business development company posted strong Q4 earnings , resulting in an increase in its quarterly distribution.

Q4 adj. net investment income per share of $0.81 vs. $0.73 in Q3 and $0.65 in Q4 2021.

Net asset value was $24.89 per share at Q4-end vs. $25.30 per share at Q3-end. Net debt to equity ratio was 118% at Q4-end vs. 119% at Q3-end.

The firm announced Q1 cash distribution of $0.70 per share, consisting of a base distribution of $0.64 and a supplemental distribution of $0.06.

"Our quarterly base distribution represents an increase of ~5% over Q3's base distribution, reflecting our positive outlook on the long-term earnings power of FSK," said CEO Michael Forman.

FS KKR Capital ( FSK ) expects its supplemental distribution will be a minimum of $0.06 apiece throughout 2023, and possibly longer.

Total fair value of investments was $15.4B at December 31, 2022, of which 69% was invested in senior secured securities, vs. $15.8B at September 30, 2022.

Earlier, FS KKR Capital ( FSK ) posted Q3 results largely in line with estimates .

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