Business
Fidus Investment Corporation Announces First Quarter 2022 Financial Results
Base Dividend of $0.36 Per Share Declared for Second Quarter 2022Board of Directors Declared Supplemental Dividend of $0.07 Per Share EVANSTON, Ill., May 05,
About this update from Fidus Investment Corporation
[{"type":"text","content":"Base Dividend of $0.36 Per Share Declared for Second Quarter 2022Board of Directors Declared Supplemental Dividend of $0.07 Per Share EVANSTON, Ill., May 05, 2022 (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, 2022. First Quarter 2022 Financial Highlights Total investment income of $20.5 millionNet investment income of $10.3 million, or $0.42 per shareAdjusted net investment income of $10.6 million, or $0.43 per share(1)Net increase in net assets resulting from operations of $11.7 million, or $0.48 per shareInvested $114.4 million in debt and equity securities, including seven new portfolio companiesReceived proceeds from repayments and realizations of $23.2 millionPaid supplemental dividend of $0.17 per share and regular quarterly dividend of $0.36 per share on March 25, 2022Net asset value (“NAV”) of $486.5 million, or $19.91 per share, as of March 31, 2022Estimated spillover income (or taxable income in excess of distributions) as of March 31, 2022 of $43.3 million, or $1.77 per share Management Commentary “In the first quarter, we began to grow our portfolio of debt investments after five consecutive quarters of elevated levels of repayments. Originations were $114.4 million, nearly all of which was invested in debt securities in seven new portfolio companies, for net originations in the quarter of $91.3 million,” said Edward Ross, Chairman and CEO of Fidus Investment Corporation. “We continue to expect another active year in the lower middle market providing us with opportunities to further increase our debt portfolio and monetize some of our equity investments. In evaluating opportunities, we intend to adhere to our proven underwriting principles and strategy of investing in high-quality companies that possess resilient business models, generate excess levels of cash flow to service debt and have positive long-term outlooks. We believe this consistent focus keeps us well positioned to generate attractive risk-adjusted returns and deliver value for our stockholders over the long term.” (1) Supplemental information regarding adjusted net investment income: On a supplemental ba...