Business
New Mountain Finance Corporation Announces Financial Results for the Quarter Ended June 30, 2025
Reports Net Investment Income of $0.36 per Share Declares a Regular Third Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.02
About this update from New Mountain Finance Corporation
[{"type":"text","content":"\nReports Net Investment Income of $0.36 per Share\n\n\nDeclares a Regular Third Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.02 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 ended June 30, 2024.\n\n\nSecond Quarter Highlights1\n\n\n\nNet investment income of $38.2 million, or $0.36 per weighted average share\n\n\n\nNet asset value of $12.74 per share compared to $12.77 per share as of March 31, 2024\n\n\n\nPlan to permanently reduce base management fee to 1.25%\n\n\n\nAmending and extending the dividend protection program\n\n\n\nContinued strong credit performance with approximately 97.0% of the portfolio rated green on our internal risk rating system, up from 96.5% at March 31, 2024\n\n\n\nIncreased portfolio velocity with $437.3 million of gross originations2, $299.1 million of repayments2 and $5.5 million of asset sales\n\n\n\nSignificant first lien loan originations contributed to asset mix improvement\n\n\n\nSuccessful repricing of the Wells Fargo Credit Facility, reducing the spread from S + 2.50% to S + 2.15%\n\n\n\nDeclared a regular third quarter 2024 distribution of $0.32 per share and a supplemental distribution related to second quarter earnings of $0.02 per share, each payable on September 30, 2024 to holders of record as of September 16, 2024\n\n\n\n\n\n($ in millions, except per share data)\n\n\n\n\n\n\nQ2 2024\n\n\n\n\n\n\nQ2 2023\n\n\n\n\n\n\n\n\nNet Investment Income per Weighted Average Share\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.36\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.39\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nDividends Paid per Share4\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.34\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.35\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAnnualized Dividend Yield5\n\n\n\n\n\n\n \n\n\n\n\n\n\n11.0\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n11.0\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nJune 30, 2024\n\n\n\n\n\n\nMarch 31, 2024\n\n\n\n\n\n\n\n\nInvestment Portfolio6\n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,227.3\n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,086.5\n\n\n\n\n\n\n\n\nNAV per Share\n\n\n\n\n\n\n$\n\n\n\n\n\n\n12.74\n\n\n\n\n\n\n$\n\n\n\n\n\n\n12.77\n\n\n\n\n\n\n\n\nStatutory Debt/Equity3\n\n\n\n\n\n\n1.21x\n\n\n\n\n\n\n1.08x\n\n...