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BlackRock Kelso Capital Corporation Declares Regular Second Quarter Dividend of $0.16 Per Share, Announces March 31, 2009 Quarterly Financial Results.

Article Excerpt
NEW YORK -- In a release issued earlier today by BlackRock Kelso Capital Corporation (NASDAQ:BKCC) (the "Company"), the payment date for the Company's second quarter dividend of $0.16 per share was inadvertently stated as July 3, 2009, a bank holiday. The correct and actual payment date will be July 2, 2009. The record date is June 19, 2009, as previously stated.

The corrected releases reads:

BLACKROCK KELSO CAPITAL CORPORATION DECLARES REGULAR SECOND QUARTER DIVIDEND OF $0.16 PER SHARE, ANNOUNCES MARCH 31, 2009 QUARTERLY FINANCIAL RESULTS

BlackRock Kelso Capital Corporation (NASDAQ:BKCC) ("BlackRock Kelso Capital" or the "Company") announced today that its Board of Directors has declared a second quarter dividend of $0.16 per share payable on July 2, 2009 to stockholders of record as of June 19, 2009.

BlackRock Kelso Capital also announced financial results for the quarter ended March 31, 2009.

HIGHLIGHTS:

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Portfolio and Investment Activity

During the three months ended March 31, 2009, we invested $15.3 million across two existing portfolio companies. This compares to investing $94.6 million across four new and four existing portfolio companies for the three months ended March 31, 2008. Sales and repayments of investment principal totaled $0.7 million during the three months ended March 31, 2009 versus $28.0 million during the three months ended March 31, 2008.

At March 31, 2009, our portfolio consisted of 63 portfolio companies and was invested 61% in senior secured loans, 30% in unsecured or subordinated debt securities, 6% in senior secured notes, 3% in equity investments and less than 1% in cash equivalents and foreign currency. This compares to 63% in senior secured loans, 28% in unsecured or subordinated debt securities, 5% in senior secured notes, 4% in equity investments and less than 1% in cash equivalents and foreign currency at March 31, 2008. Our average portfolio company investment at amortized cost was approximately $19.9 million at March 31, 2009, versus $19.7 million at March 31, 2008. At March 31, 2009, 2.3% of our total debt investments at fair value (or 7.6% at amortized cost) were on non-accrual status.

The weighted average yields of the debt and income producing equity securities in our portfolio at their current cost basis were 10.4% at March 31, 2009 and 11.5% at March 31, 2008. The weighted average yields on our senior secured loans and other debt securities at their current cost basis were 9.9% and 12.1%, respectively, at March 31, 2009, versus 10.6% and 13.2% at March 31, 2008. Yields exclude common equity investments, preferred equity investments with...

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