Investment Income - Total investment income for Q4 2024 was $34.9 million, up from $29.8 million in Q4 2023, representing a 17.1% increase[4] - Net investment income for Q4 2024 was $14.8 million or $0.45 per share, compared to $15.4 million or $0.58 per share in Q4 2023, reflecting a decrease of 3.9% in income and 22.4% in per share earnings[4] - Investment income from non-controlled, non-affiliated investments rose to $143,513,299 in 2024, up from $112,223,607 in 2023, marking an increase of about 27.9%[26] - The company reported a net investment income of $62,600,382 for 2024, compared to $57,987,520 in 2023, reflecting an increase of approximately 8.8%[26] Asset and Liability Overview - As of December 31, 2024, total assets were $1.4 billion, and total net assets were $537.8 million[4] - Total assets increased to $1,431,042,759 in 2024 from $1,121,814,718 in 2023, representing a growth of approximately 27.6%[21] - Total liabilities increased to $893,197,790 in 2024 from $659,859,325 in 2023, reflecting a rise of approximately 35.3%[21] - The debt-to-equity ratio as of December 31, 2024, was 1.50x, slightly down from 1.52x as of September 30, 2024[4] Investment Activity - The principal amount of new investments funded in Q4 2024 was $171.8 million, with $176.4 million in aggregate principal amount in sales and repayments[8] - New investments totaled $773,809,544 in 2024, significantly higher than $273,733,424 in 2023, indicating a growth of about 183.5%[30] - The principal amount of investments sold or repaid was $468,762,595 in 2024, compared to $247,083,117 in 2023, which is an increase of approximately 89.7%[30] - The number of new investment commitments increased to 94 in 2024 from 67 in 2023, representing a growth of approximately 40.3%[30] - The weighted average interest rate of new investment commitments was 9.12% in 2024, down from 10.22% in 2023[30] Portfolio Composition - The portfolio consisted of 85.7% first lien senior secured debt investments, with a total fair value of investments at approximately $1.4 billion[7] - The weighted average total yield to maturity of debt and income-producing securities at fair value was 10.65% as of December 31, 2024[8] Dividend Information - The company declared a first quarter regular base dividend of $0.36 per share, payable on April 10, 2025, with a supplemental dividend expected to be announced in March[10] Net Asset Value - Net asset value (NAV) per share decreased to $16.50 as of December 31, 2024, down from $17.04 at the end of 2023, a decline of 3.2%[16] - The net asset value per common share decreased to $16.50 in 2024 from $17.04 in 2023[24] Unfunded Commitments - The company had $21.6 million of unfunded commitments to provide debt financing to its portfolio companies as of December 31, 2024, compared to $20.1 million in 2023[22] Realized and Unrealized Losses - Total net realized and unrealized losses for Q4 2024 were $2.9 million, contrasting with gains of $6.6 million in Q4 2023[4]
Palmer Square Capital BDC(PSBD) - 2024 Q4 - Annual Results