Business
Fidus Investment Corporation Announces Fourth Quarter and Full Year 2019 Financial Results
Regular Quarterly Dividend of $0.39 Per Share Declared for First Quarter 2020 EVANSTON, Ill., Feb. 27, 2020 (GLOBE NEWSWIRE) -- Fidus Investment Corporation
About this update from Fidus Investment Corporation
[{"type":"text","content":"Regular Quarterly Dividend of $0.39 Per Share Declared for First Quarter 2020\nEVANSTON, Ill., Feb. 27, 2020 (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 fourth quarter and full year ended December 31, 2019.\n Fourth Quarter 2019 Financial Highlights Total investment income of $19.5 millionNet investment income of $5.4 million, or $0.22 per shareAdjusted net investment income of $8.3 million, or $0.34 per share(1)Net increase in net assets resulting from operations of $20.0 million, or $0.82 per shareInvested $43.6 million in debt and equity securities, including two new portfolio companiesReceived proceeds from repayments and realizations of $21.8 millionPaid special dividend of $0.04 per share and regular quarterly dividend of $0.39 per share on December 20, 2019Net asset value (NAV) of $412.3 million, or $16.85 per share, as of December 31, 2019 Full Year 2019 Financial Highlights Total investment income of $77.1 millionNet investment income of $32.0 million, or $1.31 per shareAdjusted net investment income of $35.3 million, or $1.44 per share(1)Net increase in net assets resulting from operations of $48.5 million, or $1.98 per shareInvested $219.2 million in debt and equity securities, including 12 new portfolio companiesReceived proceeds from repayments and realizations of $120.6 millionPaid regular dividends totaling $1.56 per share and a special dividend of $0.04 per shareEstimated spillover income (or taxable income in excess of distributions) as of December 31, 2019 of $15.3 million, or $0.63 per share Management Commentary “Through steadfast underwriting discipline focused primarily on capital preservation during 2019, our portfolio remains healthy. For the fifth consecutive year, we delivered growth in NAV per share and the fair value of our investment portfolio increased 19% year over year while we received $120.6 million in proceeds from repayments, exits and realizations,” said Edward Ross, Chairman and CEO of Fidus Investment Corporation. “I am pleased to report that in February 2020 we successfully completed the partial sale of a portfolio of equity investments, generating $35.9 million in ne...