Business
New Mountain Finance Corporation Announces Financial Results for the Quarter and Year Ended December 31, 2022
Reports Adjusted Net Investment Income of $0.35 per share Declares a First Quarter Distribution to $0.32 per Share and Announces a Supplemental Dividend
About this update from New Mountain Finance Corporation
[{"type":"text","content":"\nReports Adjusted Net Investment Income of $0.35 per share\n\nDeclares a First Quarter Distribution to $0.32 per Share and Announces a Supplemental Dividend Program\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, 2022. The Company reported fourth quarter adjusted net investment income1 of $0.35 per weighted average share and net asset value (“NAV”) per share of $13.02, compared to $13.20 on September 30, 2022. The Company also announced that its board of directors declared a first quarter distribution of $0.32 per share, which will be payable on March 31, 2023 to holders of record as of March 17, 2023.\n\nSelected Financial Highlights\n\n\n\n(in thousands, except per share data)\n\n\n\n\nDecember 31, 2022\n\n\n\n\n\nInvestment Portfolio2\n\n\n\n\n$\n\n\n\n3,237,786\n\n\n\n\n\nTotal Assets\n\n\n\n\n$\n\n\n\n3,354,927\n\n\n\n\n\nTotal Statutory Debt3\n\n\n\n\n$\n\n\n\n1,697,860\n\n\n\n\n\nNAV4\n\n\n\n\n$\n\n\n\n1,314,473\n\n\n\n\n\n \n\n\n\n\n \n\n\n\n\n\nNAV per Share\n\n\n\n\n$\n\n\n\n13.02\n\n\n\n\n\nAdjusted Net Investment Income per Weighted Average Share\n\n\n\n\n$\n\n\n\n0.35\n\n\n\n\n\nDistribution Paid per Share\n\n\n\n\n$\n\n\n\n0.32\n\n\n\n\n\nStatutory Debt/Equity\n\n\n\n\n1.29x\n\n\n\n\n\nStatutory Debt/Equity (net of available cash)\n\n\n\n\n1.25x\n\n\n\n\nSupplemental Information Regarding Adjusted Net Investment Income\n\n\n\n \n\n\n\n\nThree Months Ended December 31, 2022\n\n\n\n\n\n(in millions, except per share data)\n\n\n\n\nGAAP\n\n\n\n \n\n\n\nNon-recurring\n\n\nAdjustments1\n\n\n\n \n\n\n\nAdjusted1\n\n\n\n\n\nNet investment income (\"NII\")\n\n\n\n\n$\n\n\n\n25.0\n\n\n\n \n\n\n\n$\n\n\n\n10.5\n\n\n\n \n\n\n\n$\n\n\n\n35.5\n\n\n\n\n\nNet investment income per weighted average share\n\n\n\n\n$\n\n\n\n0.25\n\n\n\n \n\n\n\n$\n\n\n\n0.10\n\n\n\n \n\n\n\n$\n\n\n\n0.35\n\n\n\n\nManagement Comments on Fourth Quarter Performance\n\n“New Mountain delivered strong results in 2022 highlighting the power of our 'defensive growth' strategy focused on sectors that drive attractive risk-adjusted earnings in any economic landscape,” said Steven B. Klinsky, NMFC Chairman. “We have a deep team with discipline and industry knowledge to capitalize in the di...