Business
Fidus Investment Corporation Announces Fourth Quarter and Full Year 2020 Financial Results
Regular Quarterly Dividend of $0.31 Per Share Declared for First Quarter 2021 Board of Directors Declared Supplemental Cash Dividend of $0.07 Per Share
About this update from Fidus Investment Corporation
[{"type":"text","content":"Regular Quarterly Dividend of $0.31 Per Share Declared for First Quarter 2021 Board of Directors Declared Supplemental Cash Dividend of $0.07 Per Share EVANSTON, Ill., Feb. 25, 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 fourth quarter and full year ended December 31, 2020. Fourth Quarter 2020 Financial Highlights Total investment income of $23.6 millionNet investment income of $6.0 million, or $0.25 per shareAdjusted net investment income of $10.7 million, or $0.44 per share(1)Net increase in net assets resulting from operations of $29.5 million, or $1.20 per shareInvested $103.9 million in debt and equity securities, including seven new portfolio companiesReceived proceeds from repayments and realizations of $100.7 millionPaid supplemental dividend of $0.04 per share and regular quarterly dividend of $0.30 per share on December 18, 2020Net asset value (“NAV”) of $410.8 million, or $16.81 per share, as of December 31, 2020 Full Year 2020 Financial Highlights Total investment income of $85.1 millionNet investment income of $39.6 million, or $1.62 per shareAdjusted net investment income of $38.0 million, or $1.55 per share(1)Net increase in net assets resulting from operations of $31.2 million, or $1.28 per share Invested $190.0 million in debt and equity securities, including 12 new portfolio companiesReceived proceeds from repayments and realizations of $210.8 millionPaid regular dividends totaling $1.29 per share and a supplemental dividend of $0.04 per shareEstimated spillover income (or taxable income in excess of distributions) as of December 31, 2020 of $22.0 million, or $0.90 per share Management Commentary “The fourth quarter brought to a close a challenging year that nevertheless showcased the success of our strategy of selectively investing in lower middle market companies with resilient business models. On the continued strength of our overall portfolio, NAV per share increased 5.5% compared to the third quarter and we ended the year with NAV per share of $16.81, nearly back to the level at the beginning of the year despite COVID-related write-downs in the first quarter,” said Edward Ross, C...