Apollo Investment Q4 Net Investment Income Down; Names Howard Widra CEO

(RTTNews) - Apollo Investment Corp. (AINV) reported that its net Investment Income for its fourth fiscal quarter ended March 31, 2018 declined to $31.94 million from $37.29 million in the prior year.

Net Increase in Net Assets Resulting from Operations was $20.63 million compared to $8.05 million in the prior year.

The company's net investment income was $0.15 per share for the quarter ended March 31, 2018, compared to $0.16 per share for the quarter ended December 31, 2017.

The Company's net asset value was $6.56 per share as of March 31, 2018, compared to $6.60 as of December 31, 2017.

Total Investment Income declined to $61.49 million from $66.30 million in the prior year.

On May 17, 2018, the Board of Directors declared a distribution of $0.15 per share, payable on July 6, 2018 to shareholders of record as of June 21, 2018.

The company announced that it has made two executive officer appointments. Mr. Howard Widra, who has served as President of the Company since June 2016 has been appointed Chief Executive Officer, succeeding Mr. James Zelter, who has served as Chief Executive Officer since 2006. Mr. Zelter will continue to serve as a Director and Mr. Widra has been named a Director.

Tanner Powell has been appointed President of Company filling the vacancy created by Mr. Widra's appointment. Mr. Powell will also continue to serve as Chief Investment Officer for the Company's Investment Adviser.