Fidus Investment Corporation Announces Second Quarter 2024 Financial Results

Core Viewpoint - Fidus Investment Corporation reported its financial results for the second quarter of 2024, highlighting a total investment income of $35.7 million and a net investment income of $17.0 million, or $0.53 per share, with a declared dividend of $0.57 per share for the third quarter of 2024 [1][2][12]. Financial Highlights - Total investment income for Q2 2024 was $35.7 million, a 16.7% increase from $30.6 million in Q2 2023 [2][4]. - Net investment income was $17.0 million, reflecting a slight increase of 1.0% from $16.8 million in the same period last year [2][7]. - Adjusted net investment income was $18.4 million, or $0.57 per share, up 17.7% from $15.6 million, or $0.62 per share, in Q2 2023 [2][7][27]. - The company declared a total dividend of $0.57 per share for Q3 2024, consisting of a base dividend of $0.43 and a supplemental dividend of $0.14 [1][12]. Investment Activity - Fidus invested $62.4 million in debt and equity securities during the quarter, including one new portfolio company [2][10]. - The company realized net gains of $9.2 million from the monetization of two equity investments [2][8]. Portfolio Overview - As of June 30, 2024, the fair value of the investment portfolio was $1,078.4 million, consisting of 86 active portfolio companies [2][9]. - The weighted average yield on debt investments was 14.0% [2][9]. Expenses and Liabilities - Total expenses for Q2 2024 were $18.7 million, a 35.9% increase from $13.8 million in Q2 2023, primarily due to higher interest and financing expenses [2][6]. - The company had $48.3 million in cash and cash equivalents and $67.5 million of unused capacity under its senior secured revolving credit facility as of June 30, 2024 [2][11]. Subsequent Events - On July 2, 2024, Fidus exited its debt investment in Aldinger Company, receiving full payment of $23.1 million [2][15]. - An incremental commitment agreement increased the total commitments available under the Credit Facility from $100.0 million to $140.0 million [2][15].