PURCHASE, N.Y., Aug. 29, 2016 (GLOBE NEWSWIRE) — MVC Capital, Inc. (NYSE:MVC) (the “Company”), a publicly traded business development company that makes private debt and equity investments, announced its financial results for the fiscal second quarter ended April 30, 2016.

Q2 2016 Highlights 

“We continue to build our operating income with a long-term goal of raising our distributions to shareholders,” said Michael Tokarz, Chairman & Portfolio Manager of MVC Capital.

For the second quarter of 2016, the Company earned $5.3 million in interest income and $10.6 million in dividend and fee income, compared to $4.8 million and $485,282, respectively, for the second quarter of 2015.

The Company reported net operating income of $10.3 million for the second quarter of 2016, compared to net operating income of $2.6 million for the same quarter of 2015.

The increase in dividend and fee income for the second quarter 2016 was primarily due to the receipt of a $10 million distribution from an MVC portfolio company on March 7, 2016.

Portfolio Adjustments

As of April 30, 2016, the Company’s net assets were $285.1 million, or $12.56 per share, compared with net assets of $282.2 million, or $12.43 per share, at the end of the prior quarter and $316.2 million, or $13.93 per share, at April 30, 2015.

During the second quarter of fiscal year 2016, the fair values of 22 portfolio companies and escrow receivables were adjusted, resulting in a net decrease of $4.3 million or $0.19 per share.