Exhibit 2.s.3
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends
| For the Six Months Ended March 31, 2014 |
For the Year Ended September 30, | |||||||||||||||||||||||
| 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||
| Net investment income |
$ | 8,895 | $ | 18,386 | $ | 19,044 | $ | 18,412 | $ | 17,759 | $ | 21,031 | ||||||||||||
| add: fixed charges and preferred dividends (A) |
3,286 | 7,137 | 8,108 | 4,096 | 5,880 | 10,727 | ||||||||||||||||||
| less: preferred dividends (A) |
(1,372 | ) | (2,744 | ) | (2,491 | ) | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Earnings |
$ | 10,809 | $ | 22,779 | $ | 24,661 | $ | 22,508 | $ | 23,639 | $ | 31,758 | ||||||||||||
| Fixed charges and preferred dividends: |
||||||||||||||||||||||||
| Interest expense |
$ | 1,284 | $ | 3,182 | $ | 4,374 | $ | 2,676 | $ | 4,390 | $ | 7,949 | ||||||||||||
| Amortization of deferred financing fees |
630 | 1,211 | 1,243 | 1,420 | 1,490 | 2,778 | ||||||||||||||||||
| Preferred dividends (A) |
1,372 | 2,744 | 2,491 | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total fixed charges and preferred dividends (A) |
$ | 3,286 | $ | 7,137 | $ | 8,108 | $ | 4,096 | $ | 5,880 | $ | 10,727 | ||||||||||||
| Ratio of earnings to combined fixed charges and pref dividends (A) |
3.3x | 3.2x | 3.0x | 5.5x | 4.0x | 3.0x | ||||||||||||||||||
(A) Preferred dividends on Series 2016 Term Preferred Shares.