Business
Fidus Investment Corporation Announces Third Quarter 2021 Financial Results
Base Dividend of $0.32 and Supplemental Dividend of $0.04 Declared for Third QuarterBoard of Directors Declared Special Dividend of $0.05 Per Share EVANSTON,
About this update from Fidus Investment Corporation
[{"type":"text","content":"Base Dividend of $0.32 and Supplemental Dividend of $0.04 Declared for Third QuarterBoard of Directors Declared Special Dividend of $0.05 Per Share EVANSTON, Ill., Nov. 04, 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 third quarter ended September 30, 2021. Third Quarter 2021 Financial Highlights Total investment income of $21.2 millionNet investment income of $5.1 million, or $0.21 per shareAdjusted net investment income of $9.8 million, or $0.40 per share(1)Net increase in net assets resulting from operations of $28.4 million, or $1.16 per shareInvested $78.2 million in debt and equity securities, including two new portfolio companiesReceived proceeds from repayments and realizations of $127.5 millionPaid supplemental dividend of $0.06 per share, special dividend of $0.04, and regular quarterly dividend of $0.32 per share on September 28, 2021Net asset value (“NAV”) of $447.5 million, or $18.31 per share, as of September 30, 2021Estimated spillover income (or taxable income in excess of distributions) as of September 30, 2021 of $22.2 million, or $0.91 per share Management Commentary “Our third quarter results reflect a continuation of a period of heightened M&A activity that began nearly a year ago. Once again, our portfolio performed well and NAV grew to $18.31 per share. Originations of $78.2 million were offset by $127.5 million of repayments which included $23.4 million in proceeds from monetizing equity investments,” said Edward Ross, Chairman and CEO of Fidus Investment Corporation. “With two new investments totaling $27.0 million closing subsequent to quarter-end and a healthy pipeline of opportunities, we remain well positioned to judiciously build our portfolio of debt investments in lower middle market companies with resilient business models and positive long-term outlooks. Our focus, as always, is on managing the business for the long-term, adhering to our underwriting principles and generating attractive risk-adjusted returns while preserving capital.” (1) Supplemental information regarding adjusted net investment income: On a supplemental basis, we provide information relating to adjust...