Business
Fidus Investment Corporation Announces Second Quarter 2024 Financial Results
Board of Directors Declared Total Dividends of $0.57 per Share for Third Quarter 2024 Base Dividend of $0.43 and Supplemental Dividend of $0.14 Per Share
About this update from Fidus Investment Corporation
[{"type":"text","content":"Board of Directors Declared Total Dividends of $0.57 per Share for Third Quarter 2024 Base Dividend of $0.43 and Supplemental Dividend of $0.14 Per Share EVANSTON, Ill., Aug. 01, 2024 (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, 2024. Second Quarter 2024 Financial Highlights Total investment income of $35.7 millionNet investment income of $17.0 million, or $0.53 per shareAdjusted net investment income of $18.4 million, or $0.57 per share(1)Invested $62.4 million in debt and equity securities, including one new portfolio companyReceived proceeds from repayments and realizations of $43.1 millionPaid total dividends of $0.59 per share: regular quarterly dividend of $0.43 and a supplemental dividend of $0.16 per share on June 26, 2024Net asset value (“NAV”) of $646.8 million, or $19.50 per share, as of June 30, 2024Estimated spillover income (or taxable income in excess of distributions) as of June 30, 2024 of $41.3 million, or $1.25 per share Management Commentary “Our portfolio performed well during the second quarter even though investment activity was relatively light compared to the first quarter. Debt investments generated a 17.7% year-over-year increase in adjusted NII and the monetization of two equity investments resulted in net realized gains of $9.2 million. With new deal activity expected to be somewhat higher in the second half of the year, we remain focused on prudently building the portfolio and generating attractive risk-adjusted returns,” said Edward Ross, Chairman and CEO of Fidus Investment Corporation. (1) Supplemental information regarding adjusted net investment income: On a supplemental basis, we provide information relating to adjusted net investment income, which is a non-GAAP measure. This measure is provided in addition to, but not as a substitute for, net investment income. Adjusted net investment income represents net investment income excluding any capital gains incentive fee expense or (reversal) attributable to realized and unrealized gains and losses. The management agreement with our investment adviser provides that a capital gains incentive fee is ...