Stellus Capital Investment Corporation Reports Results for its Fourth Fiscal Quarter and Year Ended December 31, 2024

Core Insights - Stellus Capital Investment Corporation reported solid operating results for the fourth fiscal quarter and year ended December 31, 2024, with U.S. GAAP net investment income of $0.35 per share and core net investment income of $0.37 per share [2][9] - The company funded $109 million in investments during the quarter and received $65 million in repayments, resulting in a total portfolio value of $953 million at fair value [2][5] - Since inception, investors have received a total of $288 million in aggregate distributions, equivalent to $16.69 per share [2] Financial Highlights - For the three months ended December 31, 2024, net investment income was $9.64 million, or $0.35 per share, compared to $11.91 million, or $0.49 per share for the same period in 2023 [3][9] - Core net investment income for the same period was $10.15 million, or $0.37 per share, down from $12.16 million, or $0.50 per share in 2023 [3][9] - Total realized income for the quarter was $15.57 million, with distributions totaling $10.90 million, or $0.40 per share [3][14] Portfolio Activity - As of December 31, 2024, investments at fair value increased to $953.5 million from $874.5 million a year earlier [5] - The company had 105 portfolio company investments, up from 93 in the previous year [5] - New investments during the quarter totaled $108.5 million, while repayments amounted to $64.5 million [5] Liquidity and Capital Resources - The company's credit facility allows for borrowings up to $315 million, with an accordion feature for potential expansion to $350 million [12] - As of December 31, 2024, outstanding borrowings under the credit facility were $175.4 million, compared to $160.1 million a year earlier [13] Distributions - The company declared aggregate distributions of $0.40 per share for both the three months ended December 31, 2024, and 2023, totaling $10.9 million and $9.6 million, respectively [14] - Approximately $0.5 million of the dividends declared in 2024 are expected to be characterized as long-term capital gains [14] Recent Portfolio Activity - The company made several new investments and add-on investments in various sectors, including healthcare, cybersecurity, and digital marketing, totaling millions in investment amounts [15][16][18][19]