Business
New Mountain Finance Corporation Announces December 31, 2024 Financial Results
Reports Fourth Quarter Net Investment Income of $0.32 per Share and Declares a First Quarter Distribution of $0.32 per Share NEW YORK--(BUSINESS WIRE)-- New
About this update from New Mountain Finance Corporation
[{"type":"text","content":"\nReports Fourth Quarter Net Investment Income of $0.32 per Share and Declares a First Quarter Distribution of $0.32 per Share\n\n\n NEW YORK--(BUSINESS WIRE)--\nNew Mountain Finance Corporation (NASDAQ: NMFC) (“New Mountain,” “New Mountain Finance” or the “Company”) today announced its financial results for the quarter and year ended December 31, 2024.\n\n\nFourth Quarter and Recent Highlights1\n\n\n\nNet investment income of $34.5 million, or $0.32 per weighted average share\n\n\n\nNet asset value of $12.55 per share compared to $12.62 per share as of September 30, 2024\n\n\n\nSustained strong credit performance with approximately 97% of the portfolio rated green\n\n\n\nReduced statutory debt/equity3 to 1.15x (or 1.11x net of available cash)\n\n\n\nDeclared a first quarter 2025 distribution of $0.32 per share, payable on March 31, 2025 to holders of record as of March 17, 2025\n\n\n\nOn February 25, 2025, NMFC partially exited its investment in UniTek Global Services, Inc. (\"UniTek\"). NMFC was repaid $42 million, primarily from full redemption of UniTek's PIK Second Lien Term Loan and PIK Senior Preferred II investment.\n\n\n\n\n($ in millions, except per share data)\n\n \n\n\n\n\n\n\nQ4 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ4 2023\n\n\n\n\n\n\n\n\nNet Investment Income per Weighted Average Share\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.32\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.40\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nRegular & Supplemental Dividends Paid per Share in Quarter\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.33\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.36\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAnnualized Dividend Yield4\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n10.7\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n11.3\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nDecember 31, 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nSeptember 30, 2024\n\n\n\n\n\n\n\n\nInvestment Portfolio5\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,104.5\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,278.8\n\n\n\n\n\n\n\n\nNAV per Share\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n12.55\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n12.62\n\n\n\n\n\n\n\n\nStatutory Debt/Equity3\n\n\n\n\n\n\n \n\n\n\n\n\n\n1.15x\n\n\n\n\n\n\n \n\n\n\n\n\n\n1.26x\n\n\n\n\n\n\n\n\nStatutory Debt/Equity (Net of Available Cash)...