- OHA Investment (OHAI +1.3%) reports decrease in Q1 Investment income by 7.3% Y/Y to $2.28M.
- Net investment loss was $0.1M (-150% Y/Y); decrease was driven by lower investment income & an increase in legal fees.
- Net realized & unrealized gains were $1.8M.
- New portfolio investments added during Q1 was $10.9M & Fair value of portfolio investments was $65M (+0.2% Q/Q).
- Q1 overall expenses: Operating expense of $2.4M (+5.1% Y/Y); Interest expense & bank fees of $0.8M (-15.5% Y/Y), decrease was due to lower principal balance due to a partial repayment in Q4 2017; Management fees of $0.4M (-29.8% Y/Y); Professional fees was up 137.3% Y/Y to $0.6M, due to an increase in legal fees; Other general & administrative expenses decreased by 3.1% Y/Y to $0.4M, due to a decrease in employee related expenses.
- Cash & equivalents of $22.2M (+11.6% Q/Q) & amount outstanding under credit facility was $36M (flat Q/Q).
- The company declared a quarterly dividend of $0.02 per share.
- After declaring the dividend, net asset value increased 2.5% Q/Q to $2.43 per share or totaled to $49.1M.
- Previously: OHA Investment reports Q1 results (May 14)
- Now read: Granite Oil declares CAD 0.023 dividend
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