TORTOISE CAP RES CORP
SymbolTTO

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Tortoise Capital Resources Corp. Releases Fiscal 2009 Third Quarter Financial Results

2009-10-12 16:05 ET - News Release


LEAWOOD, Kan. -- (Business Wire)

Tortoise Capital Resources Corp. (NYSE: TTO) (the company) today announced that on Friday, Oct. 9, 2009 it filed its Form 10-Q for its third quarter ended Aug. 31, 2009.

Recent Highlights

  • Net assets of $79.1 million or $8.76 per share as of Aug. 31, 2009
  • Total assets of $85.8 million as of Aug. 31, 2009
  • Distributable cash flow (DCF) of $1.2 million for the fiscal quarter ended Aug. 31, 2009
  • Third quarter 2009 distribution of $0.13 per share paid Sept. 1, 2009
  • Credit facility balance of $4.6 million as of Oct. 12, 2009

Performance Review

On Sept. 1, 2009, the company paid a distribution of $0.13 per common share, the same amount paid last quarter. The company determines the amount of distributions paid to stockholders based on DCF which is distributions received from investments less total expenses. Two portfolio companies, High Sierra Energy, LP (High Sierra) and EV Energy Partners, L.P., increased their cash distributions to common unitholders this quarter. VantaCore Partners LP (VantaCore) reduced its cash distribution this quarter by approximately 5 percent to its minimum quarterly distribution rate.

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