KKR Financial Holdings LLC (KFN) Wednesday said first-quarter net income available to common shareholders was $91.6 million or $0.46 per share, compared to $88.0 million or $0.48 per share for the comparable prior-year period. The latest quarter had more shares outstanding.
The latest results include non-cash charges of $24.2 million associated with the retirement of the company's $172.5 million face amount of 7.5 percent convertible notes due 2017 through the issuance of 26.1 million common shares.
Total revenues increased to $140.45 million from $137.93 million in the prior year.
On April 30, the company's board of directors declared a cash distribution of $0.21 per common share. The distribution is payable on May 28 to common shareholders of record as of the close of business on May 14.
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