Business
Fidus Investment Corporation Announces First Quarter 2021 Financial Results
Base Dividend of $0.31 and Supplemental Dividend of $0.08 Per Share Declared for Second Quarter 2021 EVANSTON, Ill., May 06, 2021 (GLOBE NEWSWIRE) -- Fidus
About this update from Fidus Investment Corporation
[{"type":"text","content":"Base Dividend of $0.31 and Supplemental Dividend of $0.08 Per Share Declared for Second Quarter 2021\nEVANSTON, Ill., May 06, 2021 (GLOBE NEWSWIRE) -- Fidus Investment Corporation (NASDAQ:FDUS) (“Fidus” or the “Company”), a provider of customized debt and equity financing solutions, primarily to lower middle-market companies based in the United States, today announced its financial results for the first quarter ended March 31, 2021. First Quarter 2021 Financial Highlights Total investment income of $23.3 millionNet investment income of $11.1 million, or $0.45 per shareAdjusted net investment income of $11.2 million, or $0.46 per share(1)Net increase in net assets resulting from operations of $11.5 million, or $0.47 per shareInvested $63.1 million in debt and equity securities, including four new portfolio companiesReceived proceeds from repayments and realizations of $98.6 millionPaid supplemental dividend of $0.07 per share and regular quarterly dividend of $0.31 per share on March 26, 2021Net asset value (“NAV”) of $413.0 million, or $16.90 per share, as of March 31, 2021Estimated spillover income (or taxable income in excess of distributions) as of March 31, 2021 of $24.0 million, or $0.98 per share Management Commentary “For the first quarter, our portfolio generated strong adjusted NII, including a lift from fee income. NAV per share grew for the fourth consecutive quarter reflecting an ongoing trend of improving health of the portfolio overall since the pandemic began last year. As a result of continued high levels of M&A activity in the lower middle market, repayments were once again above historical averages and, as expected, outpaced originations,” said Edward Ross, Chairman and CEO of Fidus Investment Corporation. “With a proven strategy of selectively investing in companies with defensive characteristics and positive long-term outlooks, we intend to continue to build our portfolio of debt and equity investments while remaining steadfast in our focus on generating attractive risk-adjusted returns and capital preservation.” (1) Supplemental information regarding adjusted net investment income: On a supplemental basis, we provide information relating to adjusted net investment income, which is a non-GAAP measure. This measure is provided in addition to, but not as a substitute for, net investment income. Adjusted net inv...