Business
New Mountain Finance Corporation Announces Financial Results for the Quarter Ended September 30, 2024
Reports Adjusted Net Investment Income1 of $0.34 per Share Declares a Regular Fourth Quarter Distribution of $0.32 per Share and a Supplemental Distribution
About this update from New Mountain Finance Corporation
[{"type":"text","content":"\nReports Adjusted Net Investment Income1 of $0.34 per Share\n\nDeclares a Regular Fourth Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.01 per Share\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 September 30, 2024.\n\nThird Quarter Highlights2\n\n\nAdjusted net investment income1 of $36.7 million, or $0.34 per weighted average share\n\n\nNet asset value of $12.62 per share compared to $12.74 per share as of June 30, 2024\n\n\nContinued strong credit performance with approximately 97.3% of the portfolio rated green on our internal risk rating system, up from 97.0% at June 30, 2024\n\n\nGenerated $146.2 million of gross originations3, partially offset by $100.6 million of repayments3 and $1.5 million of asset sales\n\n\nDeclared a regular fourth quarter 2024 distribution of $0.32 per share and a supplemental distribution related to third quarter earnings of $0.01 per share, each payable on December 31, 2024 to holders of record as of December 17, 2024\n\n\n\n\n($ in millions, except per share data)\n\n\n\n \n\n\n\nQ3 2024\n\n\n\n \n\n\n\nQ3 2023\n\n\n\n\n\nNet Investment Income per Weighted Average Share\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\n0.40\n\n\n\n \n\n\n\n\n\nNon-recurring Adjustments1\n\n\n\n \n\n\n\n \n\n\n\n0.01\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\nNet Adjusted Investment Income1 per Weighted Average Share\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\n0.40\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$\n\n\n\n0.34\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.36\n\n\n\n \n\n\n\n\n\nAnnualized Dividend Yield5\n\n\n\n \n\n\n\n \n\n\n\n11.9\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n11.7\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n \n\n\n\nSeptember 30, 2024\n\n\n\n \n\n\n\nJune 30, 2024\n\n\n\n\n\nInvestment Portfolio6\n\n\n\n \n\n\n\n$\n\n\n\n3,278.8\n\n\n\n \n\n\n\n$\n\n\n\n3,227.3\n\n\n\n\n\nNAV per Share\n\n\n\n \n\n\n\n$\n\n\n\n12.62\n\n\n\n \n\n\n\n$\n\n\n\n12.74\n\n\n\n\n\nStatutory Debt/Equity4\n\n\n\n \n\n\n\n1.26x\n\n\n\n \n\n\n\n1.21x\n\n\n\n\n\nStatutory Debt/Equity (Net of Available Cash)4\n\n\n\n \n\n\n\n1.23x\n\n\n\n \n\n\n\n1.14x\n\n\n\n\nManagem...