Business
Fidus Investment Corporation Announces Third Quarter 2023 Financial Results
Board of Directors Declared Total Dividends of $0.80 Per Share for Fourth Quarter 2023Base Dividend of $0.43, Supplemental Dividend of $0.27, and Special
About this update from Fidus Investment Corporation
[{"type":"text","content":"Board of Directors Declared Total Dividends of $0.80 Per Share for Fourth Quarter 2023Base Dividend of $0.43, Supplemental Dividend of $0.27, and Special Dividend of $0.10 Per Share EVANSTON, Ill., Nov. 02, 2023 (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, 2023. Third Quarter 2023 Financial Highlights Total investment income of $34.2 millionNet investment income of $16.7 million, or $0.63 per shareAdjusted net investment income of $18.2 million, or $0.68 per share(1)Net increase in net assets resulting from operations of $24.3 million, or $0.91 per shareInvested $56.7 million in debt and equity securities, including two new portfolio companiesReceived proceeds from repayments and realizations of $69.9 millionPaid total dividends of $0.72 per share: regular quarterly dividend of $0.41 per share, supplemental dividend of $0.21 per share, and special dividend of $0.10 per share on September 27, 2023Net asset value (“NAV”) of $548.6 million, or $19.28 per share, as of September 30, 2023Estimated spillover income (or taxable income in excess of distributions) as of September 30, 2023 of $32.7 million, or $1.15 per share Management Commentary “Our portfolio delivered strong results for the third quarter, building on a strong first half of 2023. Income-producing assets generated a 46% increase in Adjusted NII compared to last year, well in excess of our base dividend, reflecting both higher loan balances and higher yields, and our equity portfolio produced realized gains totaling $9.8 million. As a result of our portfolio’s performance in 2023, the Board of Directors has declared an increase in the base dividend to $0.43 per share. Our strategy of managing the business for the long-term, with a steadfast focus on growing NAV over time, preserving capital and generating attractive risk-adjusted returns, continues to deliver value to our shareholders,” 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, whic...