Fidus Investment (US:FDUS)2025-03-06 21:06Investment Income - Total investment income for Q4 2024 was $37.5 million, a 3.2% increase from Q4 2023[5] - Net investment income for Q4 2024 was $18.6 million, or $0.55 per share, representing a 10.1% increase year-over-year[9] - Full year 2024 total investment income reached $146.1 million, a 12.3% increase compared to 2023[11] - Net investment income for the full year 2024 was $74.6 million, or $2.29 per share, a 14.6% increase from the previous year[13] Investment Activities - The company invested $120.3 million in debt and equity securities during Q4 2024, including five new portfolio companies[5] - As of December 31, 2024, the fair value of the investment portfolio totaled $1.1 billion, consisting of 87 active portfolio companies[15] - The weighted average yield on debt investments was 13.3% as of December 31, 2024[16] - Subsequent to the reporting period, the company invested $15.0 million in Customer Expressions Corp. and $19.0 million in Onsight Industries, LLC[18][19] - The company exited its preferred equity investment in Healthfuse, LLC, realizing a gain of approximately $3.2 million[20] - A net realized gain of approximately $8.2 million was achieved from equity investments in Medsurant Holdings, LLC[21] - The company invested a total of $14.0 million in Fraser Steel LLC, including $14.0 million in first lien debt and $0.5 million in common equity[21] - An additional $14.5 million in SBA debentures was issued, bearing a fixed interim interest rate of 5.217% until March 2025[22] Dividends - Total dividends paid in 2024 amounted to $2.42 per share, including regular and supplemental dividends[5] - The company declared a total dividend of $0.54 per share for the first quarter of 2025, consisting of a base dividend of $0.43 and a supplemental dividend of $0.11[25] - The company declared dividends of $0.61 per share in Q4 2024, down from $0.80 per share in Q4 2023[36] - The company has adopted a dividend reinvestment plan (DRIP) for stockholders to reinvest dividends into additional shares[27] Financial Position - The company had $57.2 million in cash and cash equivalents as of December 31, 2024[17] - Total assets increased to $1,164,112 thousand as of December 31, 2024, compared to $1,090,898 thousand in 2023[34] - Total net assets rose to $655,666 thousand as of December 31, 2024, up from $589,474 thousand in 2023[34] - The net asset value per common share was $19.33 as of December 31, 2024, slightly down from $19.37 in 2023[34] - The company repaid $12.5 million of SBA debentures with a weighted average interest rate of 5.755%[24] Performance Metrics - Total expenses for Q4 2024 were $17,051,000, a decrease of 2.0% from $18,408,000 in Q4 2023[36] - Net realized losses on investments for Q4 2024 were $576,000, compared to net realized gains of $19,804,000 in Q4 2023[36] - Net increase in net assets resulting from operations for the year ended December 31, 2024, was $78,292,000, compared to $77,133,000 for the year ended December 31, 2023[36] - The capital gains incentive fee expense for Q4 2024 was $(211,000), compared to $1,898,000 in Q4 2023[40] - The company reported a net change in unrealized appreciation (depreciation) on investments of $(522,000) for Q4 2024, compared to $(10,220,000) in Q4 2023[36]