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Tuesday, 11/02/2010 11:35:43 AM

Tuesday, November 02, 2010 11:35:43 AM

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MCG Capital Corporation Reports Third Quarter 2010 Results and Declares Dividend of $0.14 Per Share


ARLINGTON, Va.--(BUSINESS WIRE)-- MCG Capital Corporation (Nasdaq:MCGC - News) (“MCG” or the “Company”) announced today its financial results for the quarter ended September 30, 2010. MCG will host an investment community conference call today, November 2, 2010 at 11:00 a.m. (Eastern Time). Slides and financial information to be reviewed during the investor conference call will be available on MCG’s website at http://www.mcgcapital.com prior to the call.

HIGHLIGHTS

* Distributable net operating income, or DNOI, for the quarter ended September 30, 2010 was $12.4 million, or $0.16 per share.
* Net operating income for the quarter ended September 30, 2010 was $11.4 million, or $0.15 per share.
* Net loss for the quarter ended September 30, 2010 was $0.5 million, or $0.01 per share.
* Net investment loss for the quarter ended September 30, 2010 was $9.8 million, which represented 1.0% of the most recently reported fair value of MCG’s investment portfolio.
* During the quarter ended September 30, 2010, MCG made $69.1 million of advances and originations, including $49.3 million in debt investments to seven new portfolio companies. Payoffs and portfolio monetization activities totaled $126.3 million during the quarter.
* MCG’s ratio of total assets to total borrowings and other senior securities was 233% as of September 30, 2010.

DIVIDEND DECLARATION

MCG also announced today that its board of directors has declared a dividend of $0.14 per share. The dividend is payable as follows:

Record date: December 9, 2010
Payable date: January 6, 2011

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