WhiteHorse Finance, Inc. Announces First Quarter 2024 Earnings Results and Declares Quarterly Distribution of $0.385 Per Share

About this update from Whitehorse Finance, Inc.

[{"type":"text","content":"NEW YORK, May 8, 2024 /PRNewswire/ -- WhiteHorse Finance, Inc. (\"WhiteHorse Finance\" or the \"Company\") (Nasdaq: WHF) today announced its financial results for the quarter ended March 31, 2024. In addition, the Company's board of directors has declared a distribution of $0.385 per share with respect to the quarter ended March 31, 2024. The distributions will be payable on July 2, 2024 to stockholders of record as of June 18, 2024.\n\nStuart Aronson, WhiteHorse Finance's Chief Executive Officer, commented, \"I am pleased to report that WhiteHorse delivered another strong quarter of core net investment income well in excess of our regular dividend. We are seeing balanced activity across our portfolio in terms of credit performance and stability after incurring realized losses and one markdown on an equity investment in which we had no cash basis during the quarter. As the broader lending market has become more aggressive, WhiteHorse continues to underwrite at conservative terms. Our pipeline level remains high, with opportunities to invest in credits with compelling risk-return characteristics, due in part to our sourcing model, which allows us to source deals in areas of the market where there is less competition. This has allowed us to continue to be conservative in our deal selection and efficiently redeploy capital as repayment activity increases.\"\nSummary Information as of March 31, 2024 and December 31, 2023 (unaudited):\nThree Months Ended \nThree Months Ended \nChange\n($ in thousands except per share data)\nMarch 31, 2024\nDecember 31, 2023\n$\n%\nTotal investment income\n$\n25,475\n$\n25,633\n(158.0)\n(0.6)\nTotal expenses, including excise tax\n14,660\n15,029\n(369)\n(2.5)\nNet investment income and core net investment income(1)\n10,815\n10,604\n211\n2.0\nNet investment income and core net investment income(1) per share\n0.465\n0.456\n0.009\n2.0\nDistributions per share\n0.385\n0.385\n-\n-\nNet realized gains (losses)\n(5,634)\n340\n(5,974)\nNMF\nNet unrealized appreciation (depreciation)\n788\n(7,518)\n8,306\n(110.5)\nNet increase in net assets resulting from operations\n5,969\n3,426\n2,543\n74.2\n($ in thousands except per share data)\nAs of March 31, 2024\nAs of December 31, 2023\n$\n%\nTotal investments, at fair value(2)\n$\n697,869\n$\n696,168\n1,701\n0.2\nSTRS JV total investments, at fair value\n309,429\n312...

More updates from Whitehorse Finance, Inc.