Business
Fidus Investment Corporation Announces Fourth Quarter and Full Year 2024 Financial Results
Board of Directors Declared Total Dividends of $0.54 per Share for First Quarter 2025 Base Dividend of $0.43 and Supplemental Dividend of $0.11 Per Share
About this update from Fidus Investment Corporation
[{"type":"text","content":"Board of Directors Declared Total Dividends of $0.54 per Share for First Quarter 2025 Base Dividend of $0.43 and Supplemental Dividend of $0.11 Per Share EVANSTON, Ill, March 06, 2025 (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, 2024. Fourth Quarter 2024 Financial Highlights Total investment income of $37.5 millionNet investment income of $18.6 million, or $0.55 per shareAdjusted net investment income of $18.4 million, or $0.54 per share(1)Invested $120.3 million in debt and equity securities, including five new portfolio companiesReceived proceeds from repayments and realizations of $122.8 millionPaid total dividends of $0.61 per share: regular quarterly dividend of $0.43 and supplemental dividend of $0.18 per share on December 27, 2024Net asset value (“NAV”) of $655.7 million, or $19.33 per share, as of December 31, 2024 Full Year 2024 Financial Highlights Total investment income of $146.1 millionNet investment income of $74.6 million, or $2.29 per shareAdjusted net investment income of $75.4 million, or $2.31 per share(1)Invested $394.5 million in debt and equity securities, including 16 new portfolio companiesReceived proceeds from repayments and realizations of $276.9 millionPaid total dividends of $2.42 per share: regular quarterly dividends totaling $1.72 and supplemental dividends of $0.70 per shareEstimated spillover income (or taxable income in excess of distributions) as of December 31, 2024 of $45.6 million, or $1.34 per share Management Commentary “During the fourth quarter and fiscal year 2024, we extended our track record of growing our portfolio while maintaining sound credit quality overall by adhering to our proven strategy of investing in debt and equity investments,” said Edward Ross, Chairman and CEO of Fidus Investment Corporation. “Originations for the year exceeded repayments and realizations resulting in a 13.8% increase in assets under management on a fair value basis. Our portfolio generated 11.6% higher adjusted net investment income and produced $11.6 million of net realized gains. In 2024, we distributed a total of $2.42 per share ...