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Stellus Capital Investment Corporation Reports Results for its Third Fiscal Quarter Ended September 30, 2024
SCMStellus Capital Investment (SCM) Prnewswire·2024-11-07 23:09

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 0.39pershareandcorenetinvestmentincomeof0.39 per share and core net investment income of 0.40 per share, covering the declared regular dividend of 0.40pershare[1][4]−Thenetassetvaluepershareincreasedby0.40 per share [1][4] - The net asset value per share increased by 0.19 from the previous quarter, reaching 13.55[1][12]−Thecompanyhasincreaseditscapitalbaseby13.55 [1][12] - The company has increased its capital base by 55 million through the upsizing of its Credit Facility to 315million[1][10]FinancialHighlights−ForthethreemonthsendedSeptember30,2024,netinvestmentincomewas315 million [1][10] Financial Highlights - For the three months ended September 30, 2024, net investment income was 10.26 million, down from 10.82millioninthesameperiodof2023,withpershareamountsof10.82 million in the same period of 2023, with per share amounts of 0.39 and 0.47respectively[2][4]−Corenetinvestmentincomeforthesameperiodwas0.47 respectively [2][4] - Core net investment income for the same period was 10.62 million, compared to 11.16millionin2023,withpershareamountsof11.16 million in 2023, with per share amounts of 0.40 and 0.49respectively[2][4]−Totalrealizedincomeforthequarterwas0.49 respectively [2][4] - Total realized income for the quarter was 6.94 million, down from 11.40millionintheprioryear[2][4]PortfolioActivity−AsofSeptember30,2024,thecompanyhadinvestmentsatfairvaluetotaling11.40 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 874.5millionattheendof2023[3]−Thetotalassetsincreasedto874.5 million at the end of 2023 [3] - The total assets increased to 957.1 million from 908.1million[3]−Thecompanymadenewinvestmentstotaling908.1 million [3] - The company made new investments totaling 17.8 million during the quarter, while repayments of investments amounted to 15.5million,resultinginnetactivityof15.5 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 26.5million,comparedto26.5 million, compared to 27.2 million in the same period of 2023 [4][13] - Gross operating expenses for the quarter were 16.2million,slightlydownfrom16.2 million, slightly down from 16.3 million in the previous year [4][13] - The company declared aggregate distributions of 0.40pershareforboththecurrentandprioryearperiods,totaling0.40 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]