Stellus Capital Investment Corporation Reports Results for its Third Fiscal Quarter Ended September 30, 2024

Core Insights - Stellus Capital Investment Corporation reported solid operating results for the fiscal quarter ended September 30, 2024, with U.S. GAAP net investment income of $0.39 per share and core net investment income of $0.40 per share, covering the declared regular dividend of $0.40 per share [1][4] - The net asset value per share increased by $0.19 from the previous quarter, reaching $13.55 [1][12] - The company has increased its capital base by $55 million through the upsizing of its Credit Facility to $315 million [1][10] Financial Highlights - For the three months ended September 30, 2024, net investment income was $10.26 million, down from $10.82 million in the same period of 2023, with per share amounts of $0.39 and $0.47 respectively [2][4] - Core net investment income for the same period was $10.62 million, compared to $11.16 million in 2023, with per share amounts of $0.40 and $0.49 respectively [2][4] - Total realized income for the quarter was $6.94 million, down from $11.40 million in the prior year [2][4] Portfolio Activity - As of September 30, 2024, the company had investments at fair value totaling $908.7 million, an increase from $874.5 million at the end of 2023 [3] - The total assets increased to $957.1 million from $908.1 million [3] - The company made new investments totaling $17.8 million during the quarter, while repayments of investments amounted to $15.5 million, resulting in net activity of $2.3 million [3] Investment Income and Expenses - Investment income for the three months ended September 30, 2024, was $26.5 million, compared to $27.2 million in the same period of 2023 [4][13] - Gross operating expenses for the quarter were $16.2 million, slightly down from $16.3 million in the previous year [4][13] - The company declared aggregate distributions of $0.40 per share for both the current and prior year periods, totaling $10.6 million and $9.3 million respectively [4][9] Recent Developments - The company has continued to invest in various portfolio companies, with notable investments including PCS Software, Trade Education Acquisition, and Bart & Associates during the quarter [5][6] - Subsequent to September 30, 2024, the company made additional investments in Compost 360 Investments and Norplex Micarta Acquisition, totaling $13.05 million [7][10]