Business
New Mountain Finance Corporation Announces First Quarter Financial Results
Reports Net Investment Income of $0.38 per share Declares a Regular Second Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.03
About this update from New Mountain Finance Corporation
[{"type":"text","content":"\nReports Net Investment Income of $0.38 per share\n\n\nDeclares a Regular Second Quarter Distribution of $0.32 per Share and a Supplemental Distribution of $0.03 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 March 31, 2023. The Company reported first quarter net investment income (\"NII\") of $0.38 per weighted average share and net asset value (“NAV”) per share of $13.14, compared to $13.02 on December 31, 2022. The Company also announced that its board of directors declared a second quarter regular distribution of $0.32 per share and a supplemental distribution of $0.03, which will be payable on June 30, 2023 to holders of record as of June 16, 2023.\n\n\nSelected Financial Highlights\n\n\n\n\n(in thousands, except per share data)\n\n\n\n\n\n\n\nMarch 31, 2023\n\n\n\n\n\n\n\n\nInvestment Portfolio1\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,286,865\n\n\n\n\n\n\n\n\nTotal Assets\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,378,935\n\n\n\n\n\n\n\n\nTotal Statutory Debt2\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,710,767\n\n\n\n\n\n\n\n\nNAV3\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,326,690\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNAV per Share\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n13.14\n\n\n\n\n\n\n\n\nNet Investment Income per Weighted Average Share\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.38\n\n\n\n\n\n\n\n\nDistribution Paid per Share\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.32\n\n\n\n\n\n\n\n\nStatutory Debt/Equity\n\n\n\n\n\n\n\n1.29x\n\n\n\n\n\n\n\n\nStatutory Debt/Equity (net of available cash)\n\n\n\n\n\n\n\n1.26x\n\n\n\n\n\n\n\nManagement Comments on First Quarter Performance\n\n\n“Our first quarter results reflect a very good start to 2023 with year-over-year net investment income per share growth of over 26%. Our credit performance remains strong even in a more difficult market environment,” said Steven B. Klinsky, NMFC Chairman. “New Mountain Finance Corporation continues to benefit from our disciplined defensive growth investment focus and our knowledgeable and experienced team.\"\n\n\nJohn R. Kline, CEO, commented: “NMFC’s net investment income per share again outpaced its regular quarterly dividend in the first quarter, resulting in a supplemental distribution of $0.03 per share in addition to our regular d...