|
Year Ended December 31
|
 |
1997 |
1996 |
1995 |
1994 |
1993 |
| Per
Share Operating Performance |
|
|
|
|
|
| Net asset value, beginning
of year |
$23.71 |
$21.36 |
$17.98 |
$19.78 |
$20.48 |
|
|
Net investment income |
0.43 |
0.52 |
0.50 |
0.51 |
0.48 |
|
Net realized gains
and change in unrealized
appreciation
and other changes |
6.33 |
3.55 |
4.54 |
(0.71) |
1.18 |
|
| Total from investment
operations |
6.76 |
4.07 |
5.04 |
(0.20) |
1.66 |
| Less distributions |
|
|
|
|
|
|
Dividends from net
investment income |
(0.44) |
(0.52) |
(0.52) |
(0.50) |
(0.45) |
|
Distributions from
net realized gains |
(1.52) |
(1.20) |
(1.14) |
(1.10) |
(1.18) |
|
| Total distributions |
(1.96) |
(1.72) |
(1.66) |
(1.60) |
(1.63) |
| Dilution resulting from
the rights offering |
- |
- |
- |
- |
(0.73) |
| Net asset value, end
of year |
$28.51 |
$23.71 |
$21.36 |
$17.98 |
$19.78 |
|
| Per share market price,
end of year |
$24.1875 |
$19.75 |
$18.50 |
$15.625 |
$17.875 |
|
| Total
Investment Return |
|
|
|
|
|
| Based on market price
|
33.1% |
16.4% |
29.5% |
(3.7)% |
(2.7)% |
| Ratios/Supplemental
Data |
|
|
|
|
|
| Net assets, end of year
(in 000's) |
$1,424,170 |
$1,138,760 |
$986,231 |
$798,298 |
$840,610 |
| Ratio of expenses to
average net assets |
0.39% |
0.34% |
0.46% |
0.33% |
0.36% |
Ratio of net investment
income to average
net assets
|
1.61% |
2.30%
|
2.51% |
2.65% |
2.33% |
| Portfolio turnover |
17.36% |
19.60% |
23.98% |
19.23% |
21.40% |
| Average brokerage commission
rate |
$0.06 |
$0.07 |
- |
- |
- |
Number of shares outstanding
at end of
year (in
000's) |
49,949 |
48,037 |
46,166 |
44,390 |
42,498 |
|
QUARTERLY RESULTS OF INVESTMENT
OPERATIONS (Unaudited)
Shown in thousands of dollars and per common share:
|
Three Months Ended
|
|
March
31, 1997 |
June
30,
1997 |
September
30, 1997 |
December
31, 1997 |
Total investment
income
|
$ 6,111 |
$ 0.13 |
$ 6,490 |
$ 0.13 |
$ 6,260 |
$ 0.13 |
$ 6,924 |
$ 0.14 |
Net Investment
Income |
4,949 |
0.10 |
5,128 |
0.11 |
5,061 |
0.10 |
5,647 |
0.12 |
Net realized gain and
change
in unrealized
appreciation |
5,266 |
0.11 |
185,344 |
3.86 |
89,032 |
1.85 |
34,784 |
0.72 |
|
|
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 |
|
