Contributing analyst to the iREIT+Hoya Capital investment group. The Dividend Collectuh is not a registered investment professional nor financial advisor and these articles should not be taken as financial advice. This is for educational purposes only and I encourage everyone to do their own due diligence. I'm a Navy veteran who enjoys dividend investing in quality blue-chip stocks, BDC's, and REITs. I am a buy-and-hold investor who prefers quality over quantity and plans to supplement his retirement income ...

Interest Rate Reduced; Maturity of the Facility Extended to February 2030HOUSTON, March 25, 2025 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE: MSIF) (the "Company") is pleased to announce that its wholly-owned subsidiary, MSIF Funding, LLC, recently amended its special purpose vehicle revolving credit facility (the "SPV Facility") with JPMorgan Chase Bank, National Association. The recently closed amendment decreases the interest rate to three-month Secured Overnight Financing Rate ("SOFR") plus 2.20% from t ...

MACAU, March 21, 2025 (GLOBE NEWSWIRE) -- Studio City International Holdings Limited (NYSE: MSC) (“Studio City” or the “Company”), a world-class integrated resort located in Cotai, Macau, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024. The annual report can be accessed under the Annual Reports section on the Company’s investor relations website at https://ir.studiocity-macau.com/annual-reports. The Company will provide a hard copy of its annual repor ...

Financial Position - As of December 31, 2024, the company reported net property and equipment of US$2.65 billion, representing 88.8% of total assets[529] - The company recorded valuation allowances for deferred tax assets of US$172.7 million as of December 31, 2024, up from US$80.7 million in 2023[532] - No impairment of long-lived assets was recognized during the years ended December 31, 2024, 2023, and 2022[531] - The remaining estimated useful lives of property and equipment are periodically reviewed to ensure accurate depreciation[529] - The company believes that current assumptions used in financial estimates are appropriate, but changes in actual experience could materially affect financial statements[533] - Future changes in estimates and assumptions based on operating results or macroeconomic factors may affect the recoverability of long-lived assets[530] Market Environment - The gaming and leisure market in Macau is evolving, with increased competition expected due to more integrated resorts being developed in the Cotai region[528] - Greater regulatory scrutiny and compliance costs are anticipated due to complex anti-money laundering and data privacy laws[528] - The company is subject to greater regulatory scrutiny, which may increase compliance costs and impact financial condition due to complex anti-money laundering and data protection laws[528] Cybersecurity and Internal Processes - The company is continually enhancing its internal processes and technology infrastructure to address increasing cybersecurity threats[528] - Increased cybersecurity threats necessitate continual enhancements to internal processes and technology infrastructure to comply with evolving regulations[528] Governance and Management - The audit and risk committee is responsible for overseeing the financial statements, independent auditors, and risk management policies[571] - The compensation committee evaluates and approves compensation for the property general manager and directors[572] - The board of directors consists of eleven members, including three independent directors[561] - The company does not have a majority of independent directors, relying on "home country practice" for governance[562] - The company has established an audit and risk committee, a compensation committee, and a nominating and corporate governance committee[566] - The company has not set aside or accrued any material amount for pension or retirement benefits for its directors and executive officers[557] - The company’s directors owe fiduciary duties, including a duty of loyalty and a duty to act in good faith[563] Staffing and Labor Relations - As of December 31, 2024, the total number of dedicated staff members at Studio City was 5,848, an increase from 5,286 in 2023 and 3,571 in 2022[580] - The distribution of staff by function includes 1,773 in Gaming, 1,316 in Hotel, and 1,093 in Food and Beverage[580] - The company has not experienced significant labor disputes, and none of the dedicated staff are members of any labor union[580] - The company maintains a good working relationship with its staff, emphasizing the importance of attracting and retaining qualified personnel[580] Shareholder Information - Melco International holds 463,095,592 Class A ordinary shares, representing 54.94% of the voting power[589] - New Cotai, LLC owns 124,596,560 Class A ordinary shares and 72,511,760 Class B ordinary shares, totaling 23.39% of the voting power[589] - The Silver Point Funds have a beneficial ownership of 114,757,656 Class A ordinary shares, accounting for 13.62% of the voting power[589] - As of December 31, 2024, there were a total of 842,864,460 Class A and Class B ordinary shares outstanding[593] - 368,577,180 Class A ordinary shares were registered in the name of a nominee of Deutsche Bank Trust Company Americas[593] - 60% of the equity interest was directly held by MCO Cotai and 40% by New Cotai prior to the Organizational Transactions[594] - There are no different voting rights among shareholders[594] Financial Performance - In 2024, revenue from casino contracts was reported at $259.8 million, an increase from $155.5 million in 2023 and a recovery from a negative $56.7 million in 2022[618] - Total gaming taxes and costs deducted from gross gaming revenues were $1.06 billion in 2024, compared to $756.9 million in 2023 and $227.9 million in 2022[618] - The Gaming Operator manages the day-to-day operations of Studio City Casino and is permitted to deduct costs for gaming tables and electronic gaming machines above allocated limits[621] - In July 2024, an additional 50 electronic gaming machines were allocated for operation at Studio City Casino, increasing the total to 61 mass gaming tables currently allocated[623] Agreements and Obligations - The Participation Agreement allows New Cotai to exchange its Participation Interest for Class A ordinary shares, with adjustments to Class B shares accordingly[601] - The Company is required to contribute all net proceeds from equity securities sales to MSC Cotai, reflecting a back-to-back arrangement for share issuances[610] - The Shareholders' Agreement governs the relationship between MCO Cotai and New Cotai, including board composition and corporate governance[615] - The Studio City Casino Agreement is subject to customary events of default, allowing for termination under specific conditions[622] - Studio City Company has a total long-term contractual obligations of $2,609.2 million, with $363.8 million due in less than 1 year[515] - The company completed a private placement of shares in March 2022, raising net proceeds of $299.2 million[510] - The company has a corporate rating of "B+" from Standard & Poor's and "B1" from Moody's, both with stable outlooks[519] - As of December 31, 2024, the company has $221.6 million in 2025 Notes and $1,100 million in 2029 Notes due[515] - The company expects to incur capital expenditures in the future to develop existing operations[507] - The company relies on operating cash flow and various financing forms to meet funding needs and repay indebtedness[508] - The company has entered into eight Work Agreements covering various services, including operational and property sharing services[632] - The Master Services Agreement is effective until December 31, 2032, unless terminated or renewed by mutual agreement[628] - The company is subject to restrictions on distributions due to its subsidiaries' debt obligations[520] - The company has entered into licensing agreements for the use of certain trade names, including those related to Marriott International[522]

Core Insights - MSC Income Fund, Inc. reported a net investment income of $0.35 per share for Q4 2024, with a net asset value of $15.53 per share as of December 31, 2024 [1][4]. Fourth Quarter 2024 Highlights - The Fund achieved a net investment income of $14.2 million, translating to $0.35 per share, and total investment income of $33.5 million [6][10]. - There was a net increase in net assets resulting from operations of $20.5 million, or $0.51 per share, with a return on equity of 13.2% on an annualized basis [6][11]. - The net asset value increased by $0.15 per share, or 1.0%, from $15.38 per share as of September 30, 2024 [6]. - Regular quarterly dividends of $0.36 per share were declared, marking a 2.9% increase from the previous year [6]. Full Year 2024 Highlights - For the full year, net investment income totaled $57.3 million, or $1.43 per share, with total investment income of $134.8 million [6][10]. - The net increase in net assets resulting from operations was $56.6 million, or $1.41 per share, with a return on equity of 9.1% [6][10]. - The net asset value slightly decreased by $0.01 per share, or 0.1%, compared to the previous year [6]. Investment Portfolio and Performance - The Fund completed $29.5 million in private loan portfolio investments and $30.5 million in lower middle market (LMM) portfolio investments during Q4 2024 [6][10]. - The total cost basis of the private loan investment portfolio decreased by $5.5 million, while the LMM investment portfolio saw a net increase of $16.4 million [6]. - As of December 31, 2024, the Fund's total investments at fair value amounted to $1.18 billion, with a significant portion in private loans and LMM investments [19][20]. Liquidity and Capital Resources - The Fund had aggregate liquidity of $77.7 million, including $28.4 million in cash and cash equivalents [15]. - In January 2025, the Fund successfully listed its shares on the NYSE and completed a follow-on equity offering, generating approximately $91 million in net proceeds [16][25]. - The Fund's capital structure was enhanced through amendments to its Corporate Facility, extending the revolving period and reducing interest rates on outstanding borrowings [6][18]. Recent Developments - The Fund's Board approved modified regulatory asset coverage requirements, increasing total leverage capacity effective January 29, 2026 [17]. - A share repurchase plan was initiated, allowing the Fund to repurchase up to $65 million of its common stock over a twelve-month period starting March 2025 [27].

Core Insights - AccuStem Sciences, Inc. is pursuing a strategic commercialization plan to launch the proprietary microRNA Signature Classifier (MSC) test in the US by 2026 [1][3] - The MSC test aims to enhance the accuracy of lung cancer screening by evaluating 24 micro RNAs, thereby improving the diagnostic performance of low-dose computed tomography (LDCT) [2][3] Company Overview - AccuStem is a clinical stage diagnostics company focused on improving outcomes for cancer patients through proprietary molecular testing [5] - The company plans to address unmet clinical needs from cancer screening to treatment and monitoring by exploring novel disease pathways [5] Acquisition Details - AccuStem has acquired the rights to the MSC test, with the consideration being 3,750,000 common shares issued to certain secured creditors and interest holders [4] - The acquisition includes the transfer of all rights, title, and interest in the intellectual property related to the MSC test [4] Clinical Impact - The MSC test, when used in conjunction with LDCT, is expected to significantly reduce false positives by five-fold compared to LDCT alone, leading to better patient outcomes and lower healthcare costs [3] - Data indicates that patients who are MSC+/LDCT+ have a cumulative lung cancer incidence 30-fold higher than those who are MSC-/LDCT-, allowing for safer screening intervals [3]

Company Overview - MSC Industrial Supply Co. is a leading North American distributor of metalworking and maintenance, repair, and operations (MRO) products and services [3] - The company offers approximately 2.4 million products and provides inventory management and supply chain solutions [3] - With over 80 years of experience, MSC has a dedicated team of more than 7,000 associates focused on enhancing customer productivity and profitability [3] Upcoming Events - The company will hold a conference call to review its fiscal year 2025 second quarter results on April 3, 2025, at 8:30 a.m. Eastern Time [1] - The conference call will be accessible online and via phone, with an online archive available within one hour after the call [2]

Core Viewpoint - MSC Income Fund, Inc. has declared a regular quarterly cash dividend of $0.35 per share and a supplemental quarterly cash dividend of $0.01 per share, both payable on May 1, 2025, marking the company's first dividends since its NYSE listing on January 29, 2025 [1][3]. Dividend Details - The regular quarterly cash dividend of $0.35 per share is set for the second quarter of 2025, with a record date of March 31, 2025 [2]. - The supplemental quarterly cash dividend of $0.01 per share will also be paid in May 2025, sourced from the company's undistributed taxable income as of December 31, 2024 [2][3]. Company Overview - MSC Income Fund, Inc. is a principal investment firm that primarily provides debt capital to private companies, focusing on leveraged buyouts, recapitalizations, growth financings, refinancings, and acquisitions across diverse industry sectors [6]. - The company partners with private equity fund sponsors and invests mainly in secured debt investments, with portfolio companies typically generating annual revenues between $25 million and $500 million [6]. - The company also maintains a portfolio of customized long-term debt and equity investments in lower middle market companies, which generally have annual revenues between $10 million and $150 million [6]. Investment Advisory - MSC Adviser I, LLC, a wholly owned subsidiary of Main Street, serves as the investment adviser and administrator for MSC Income Fund, Inc. [7].

Total Commitments Increased $80.0 million to $245.0 millionAccordion Feature Increased $100.0 million to $300.0 millionHOUSTON, March 4, 2025 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE: MSIF) (the "Company") is pleased to announce the amendment of its senior secured revolving credit facility (the "Corporate Facility"). The recently closed amendment provides an increase in total commitments from $165.0 million to $245.0 million. The $80.0 million increase in total commitments was the result of the addition ...

Core Insights - Studio City International Holdings Limited reported a total operating revenue of US$152.9 million for Q4 2024, an increase from US$141.3 million in Q4 2023, driven by the recovery in inbound tourism in Macau [2][17] - The company generated gross gaming revenues of US$321.8 million in Q4 2024, up from US$294.8 million in Q4 2023 [3] - The net loss attributable to Studio City for Q4 2024 was US$27.7 million, compared to a net loss of US$18.6 million in Q4 2023 [10][19] Financial Performance - Total operating revenues for the full year 2024 reached US$639.1 million, a significant increase from US$445.5 million in 2023 [17] - Operating income for 2024 was US$38.1 million, a turnaround from an operating loss of US$29.0 million in 2023 [18] - Adjusted EBITDA for 2024 was US$245.3 million, compared to US$159.2 million in 2023, reflecting higher revenues despite increased operating costs [18] Gaming Operations - Studio City Casino's rolling chip volume decreased to US$165.0 million in Q4 2024 from US$566.0 million in Q4 2023, with a win rate of 3.48% compared to 1.86% in the previous year [4] - Mass market table games drop increased to US$891.7 million in Q4 2024, up from US$864.1 million in Q4 2023, with a hold percentage of 32.1% [5] - Gaming machine handle for Q4 2024 was US$888.9 million, compared to US$778.3 million in Q4 2023, with a win rate of 3.3% [6] Revenue Breakdown - Revenue from casino contracts for Q4 2024 was US$63.6 million, up from US$57.0 million in Q4 2023 [7] - Total non-gaming revenues for Q4 2024 were US$89.3 million, compared to US$84.3 million in Q4 2023 [8] - The average daily rate for rooms in Q4 2024 was US$175, compared to US$163 in Q4 2023, with an occupancy rate of 97% [37] Financial Position - As of December 31, 2024, total cash and bank balances were US$127.8 million, down from US$228.2 million a year earlier [14] - Total debt at the end of Q4 2024 was US$2.16 billion, a decrease from US$2.34 billion at the end of 2023 [14] - Capital expenditures for Q4 2024 were US$25.6 million [16]