|
Year Ended December 31
|
 |
1996 |
1995 |
1994 |
1993 |
1992 |
| Per
Share Operating Performance |
| Net asset value, beginning
of year |
$21.36 |
$17.98 |
$19.78 |
$20.48 |
$20.21 |
|
|
Net investment income |
0.52 |
0.50 |
0.51 |
0.48 |
0.46 |
|
Net realized gains and change in
unrealized
appreciation
and other changes |
3.55 |
4.54 |
(0.71) |
1.18 |
1.43 |
|
| Total from investment
operations |
4.07 |
5.04 |
(0.20) |
1.66 |
1.89 |
| Less distributions |
|
|
|
|
|
|
Dividends from net investment income |
(0.52) |
(0.52) |
(0.50) |
(0.45) |
(0.46) |
|
Distributions from net realized gains |
(1.20) |
(1.14) |
(1.10) |
(1.18) |
(1.16) |
|
| Total distributions |
(1.72) |
(1.66) |
(1.60) |
(1.63) |
(1.62) |
| Dilution resulting from
the rights offering |
— |
— |
— |
(0.73) |
— |
| Net asset value, end
of year |
$23.71
|
$21.36 |
$17.98 |
$19.78 |
$20.48 |
|
| Per share market price,
end of year |
$19.75 |
$18.50 |
$15.625 |
$17.875 |
$20.00 |
|
| Total
Investment Return |
| Based on market price
|
16.4% |
29.5% |
(3.7)% |
(2.7)% |
14.1% |
| Ratios/Supplemental
Data |
| Net assets, end of year
(in 000's) |
$1,138,760 |
$986,231 |
$798,298 |
$840,610 |
$696,925 |
| Ratio of expenses to
average net assets |
0.34% |
0.46% |
0.33% |
0.36% |
0.49% |
Ratio of net investment
income to average
net assets
|
2.30% |
2.51% |
2.65% |
2.33% |
2.30% |
| Portfolio turnover |
19.60% |
23.98% |
19.23% |
21.40% |
17.97% |
| Average brokerage commission
rate |
$0.07 |
— |
— |
— |
— |
Number of shares outstanding
at end of year
(in 000's) |
48,037 |
46,166 |
44,390 |
42,498 |
34,027 |
|
QUARTERLY RESULTS OF INVESTMENT
OPERATIONS (Unaudited)
Shown in thousands of dollars and per common share:
|
Three Months Ended
|
|
March
31,
1996 |
June
30,
1996 |
September
30, 1996 |
December
31, 1996 |
Total investment
income
|
$6,510 |
$0.14 |
$7,615 |
$0.16 |
$6,768 |
$0.15 |
$6,894 |
$0.15 |
Net Investment
Income |
5,404 |
0.12 |
6,736 |
0.15 |
5,632 |
0.12 |
6,465 |
0.13 |
Net realized gain and
change
in unrealized
appreciation |
36,519 |
0.79 |
35,866 |
0.78 |
39,581 |
0.86 |
59,246 |
1.28 |
|
|
Three Months Ended
|
|
March
31,
1995 |
June
30,
1995 |
September
30, 1995 |
December
31, 1995 |
Total investment
income
|
$6,002 |
$0.14 |
$6,770 |
$0.15 |
$6,745 |
$0.15 |
$7,018 |
$0.16 |
Net Investment
Income |
5,056 |
0.11 |
5,824 |
0.13 |
5,686 |
0.13 |
5,828 |
0.13 |
Net realized gain and
change
in unrealized
appreciation |
48,689 |
1.10 |
51,088 |
1.15 |
61,514 |
1.38 |
45,199 |
1.02 |
|
