Business
SLR Investment Corp. Announces Quarter Ended September 30, 2023 Financial Results
Net Investment Income of $0.43 Per Share for Q3 2023; Declared Quarterly Distribution of $0.41 Per Share; Stable NAV and Strong Portfolio Credit Quality NEW
About this update from Slr Investment Corp.
[{"type":"text","content":"Net Investment Income of $0.43 Per Share for Q3 2023; Declared Quarterly Distribution of $0.41 Per Share; Stable NAV and Strong Portfolio Credit Quality NEW YORK, Nov. 07, 2023 (GLOBE NEWSWIRE) -- SLR Investment Corp. (NASDAQ: SLRC) (the “Company”, “SLRC”, “we”, “us”, or “our”) today reported net investment income of $23.4 million, or $0.43 per share, for the third quarter of 2023. At September 30, 2023, net asset value (NAV) was $18.06 per share, compared to $17.98 at June 30, 2023. Beginning with the fourth quarter of 2023, the Company has returned to making quarterly, rather than monthly, distributions. On November 7, 2023, the Board declared a quarterly distribution of $0.41 per share payable on December 28, 2023 to holders of record as of December 14, 2023. The specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year. HIGHLIGHTS:At September 30, 2023: Comprehensive Investment Portfolio* fair value: $3.1 billionNumber of unique issuers: approximately 790Net assets: $985.4 millionNet asset value per share: $18.06Net debt-to-equity**: 1.21x Comprehensive Investment Portfolio Activity*** for the Quarter Ended September 30, 2023: Investments made during the quarter: $346.3 millionInvestments prepaid and sold during the quarter: $306.8 million Operating Results for the Quarter Ended September 30, 2023: Net investment income: $23.4 millionNet investment income per share: $0.43 Net realized and unrealized gain: $3.6 million Net increase in net assets from operations: $26.9 millionEarnings per share: $0.49 * The Comprehensive Investment Portfolio for the quarter ended September 30, 2023 is comprised of SLRC’s investment portfolio and SLR Credit Solutions’ (“SLR-CS”) full portfolio, SLR Equipment Finance’s (“SLR-EF”) full portfolio, Kingsbridge Holdings, LLC’s (“KBH”) full portfolio, SLR Business Credit’s (“SLR-BC”) full portfolio, SLR Healthcare ABL’s (“SLR-HC ABL”) full portfolio owned by the Company (collectively, the Company’s “Commercial Finance Portfolio Companies”), and the senior secured loans held by the SLR Senior Lending Program LLC (“SSLP”) attributable to the Company, and excludes the Company’s fair value of the equity interests in SSLP and the Commercial Finance Portfolio Companies and also excludes SLRC’s loans to KBH and SLR-EF. ** Please see Liq...