Business
Fidus Investment Corporation Announces Third Quarter 2020 Financial Results
Regular Quarterly Dividend of $0.30 Per Share Declared for Fourth Quarter 2020 Board of Directors Declared Supplemental Cash Dividend of $0.04 Per Share
About this update from Fidus Investment Corporation
[{"type":"text","content":"Regular Quarterly Dividend of $0.30 Per Share Declared for Fourth Quarter 2020\n Board of Directors Declared Supplemental Cash Dividend of $0.04 Per Share EVANSTON, Ill., Oct. 29, 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 third quarter ended September 30, 2020. Third Quarter 2020 Financial Highlights Total investment income of $21.1 millionNet investment income of $6.9 million, or $0.28 per shareAdjusted net investment income of $9.7 million, or $0.40 per share(1)Net increase in net assets resulting from operations of $20.7 million, or $0.85 per shareReceived proceeds from repayments and realizations of $33.8 million, recognizing $1.3 million in net realized gainsPaid regular quarterly dividend of $0.30 per share on September 25, 2020Net asset value (NAV) of $389.6 million, or $15.94 per share, as of September 30, 2020Estimated spillover income (or taxable income in excess of distributions) as of September 30, 2020 of $25.9 million, or $1.06 per share Management Commentary “Our third quarter results indicate that the overall health of Fidus’ portfolio continues to improve. We ended the quarter with NAV per share of $15.94, a 3.6% increase versus second quarter,” said Edward Ross, Chairman and CEO of Fidus Investment Corporation. “As expected, originations were paused this quarter but, with deal flow recovering, our pipeline of opportunities is increasingly robust. We remain steadfast in our commitment to our underwriting discipline of selectively investing in lower middle market companies with defensive characteristics and strong cash flow profiles. We continue to manage the business with an abundance of caution, focused on maintaining a healthy liquidity position and preserving long-term capital during these uncertain times.” (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 inc...