As adjusted to exclude the impairment of long-lived assets and CEO transition cost, GAAP diluted loss per share would have decreased to $0.17 per diluted share in the second quarter of 2020, while earnings per diluted share for Q2 of 2019 would have remained the same. NASDAQ data is at least 15 minutes delayed.This site is protected by reCAPTCHA and the Google This quarterly dividend will result in a current yield of over 11%, based on Friday's closing price of $2.47.
Our average interest rate on all debt was approximately 4.9% at the end of Q2 compared to 5.8% in Q2 of 2019, including our $265 million floating rate term loan bank debt and revolving credit facility that had a rate of approximately 3.6%. Until we have a better visibility to the future film release schedule and the related pace of theater reopenings and network attendance levels, many of the measures outlined above will remain in place.
And how does that work kind of with new advertiser coming in? Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Experts have chosen 7 stocks out of 220 Zacks Rank #1 Strong Buys that have the highest potential to increase in price quickly amid the global health crisis. National CineMedia had a negative return on equity of 8.22% and a net margin of 3.31%.
While this has been -- while it has helped NCM to make it through this crisis and be well positioned for the future. It is important to note we had great momentum going early in Q1 as demonstrated by the fact that February year-to-date revenue was up 3% over the same period in 2019 before the theater closures began in late March.For the second quarter, we reported a GAAP diluted loss per share of $0.18 versus an earnings per diluted share of $0.11 in Q2 of 2019. Historically, people like Amazon and Hulu and others have always come to our platform. In fact, our local sales team was able to convert $1.3 million of on-screen ad business to our digital platform in the quarter. All statements, including our discussion about the future impacts of COVID-19 other than statements of historical facts communicated during this conference call may constitute forward-looking statements. Hard to say what's going to happen for the rest of 2021, but -- I don't know if you want to add anything to that, Cliff, based on your end market sort of experience lately.Yeah, the one thing I would add is, a lot of the business for fourth quarter is already pre-negotiated.
So, it's a little bit -- it's a little bit of juggling, but -- and everyone understands it. As a reminder, these integration and other encumbered theater payments are added to adjusted OIBDA for debt compliance and partnership cash distribution purposes, but are not included in reported revenue or adjusted OIBDA as they are recorded as a reduction to net intangible assets on the balance sheet.Moving on to our balance sheet, our total debt outstanding at NCM LLC at the end of Q2 2020 was $1.1 billion versus $925 million at the end of Q2 of 2019, due primarily to the increase in our revolver balance that was fully drawn in late March when the theaters began to close. ZacksTrade and Zacks.com are separate companies. In accordance with Regulation G, we have reconciled these amounts back to the closest GAAP basis measurement. This compares to year-ago revenues of $76.90 million. Thank you.Ladies and gentlemen, we have reached the end of the question-and-answer session.
A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. These significantly lower cost levels, combined with our successful account receivable collection efforts, have left us in a very strong liquidity position that should allow us to operate well beyond the negative impact of the COVID-19 pandemic.We currently have a cash balance of $168.7 million and $13.2 million receivable balance at our operating company, NCM LLC. Upfront deals are made several months to a year out from a campaign air date, so it is critical that our national sales team is out in the marketplace actively pursuing these commitments now to position NCM to be able to hit the ground running in the remainder of 2020 and through 2021. We continue to be thoughtful to this phased approach so as to minimize the impact of expenses during this transition.For the six months of 2020, total revenue was $68.7 million versus $187.1 million for the first six months of 2019.