Business
Fidus Investment Corporation Announces Second Quarter 2022 Financial Results
Base Dividend of $0.36 Per Share Declared for Third and Fourth Quarter 2022Board of Directors Declared Supplemental Dividend of $0.07 Per Share for Third
About this update from Fidus Investment Corporation
[{"type":"text","content":"Base Dividend of $0.36 Per Share Declared for Third and Fourth Quarter 2022Board of Directors Declared Supplemental Dividend of $0.07 Per Share for Third Quarter 2022Board of Directors Declared Supplemental Dividend of at least $0.07 Per Share for Fourth Quarter 2022 EVANSTON, Ill., Aug. 04, 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 second quarter ended June 30, 2022. Second Quarter 2022 Financial Highlights Total investment income of $21.2 millionNet investment income of $11.0 million, or $0.45 per shareAdjusted net investment income of $10.4 million, or $0.43 per share(1)Net increase in net assets resulting from operations of $8.0 million, or $0.33 per shareInvested $45.7 million in debt and equity securities, including two new portfolio companiesReceived proceeds from repayments and realizations of $44.8 millionPaid supplemental dividend of $0.07 per share and regular quarterly dividend of $0.36 per share on June 24, 2022Net asset value (“NAV”) of $484.0 million, or $19.80 per share, as of June 30, 2022Estimated spillover income (or taxable income in excess of distributions) as of June 30, 2022 of $57.9 million, or $2.37 per share Management Commentary “For the second quarter, our portfolio performed well with debt investments delivering higher interest income on year-over-year growth in our debt portfolio, and equity investments producing net realized gains of $18.2 million, or $0.74 per share. We believe our strategy of building a portfolio of debt investments that produce recurring income and equity investments that provide us with incremental returns and a margin of safety is clearly working, delivering value for our shareholders,” said Edward Ross, Chairman and CEO of Fidus investment Corporation. “With levels of activity in the lower middle market holding steady, we remain well positioned to continue building our debt portfolio and further monetizing our equity portfolio, and to generate attractive risk-adjusted returns over the long-term. We intend to stay focused on carefully selecting investments in high-quality companies that operate in industries we know well, generate strong free cash ...