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Stellus Capital Investment Corporation Reports Results for its Fourth Fiscal Quarter and Year Ended December 31, 2024
SCMStellus Capital Investment (SCM) Prnewswire·2025-03-04 22:24

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 0.35pershareandcorenetinvestmentincomeof0.35 per share and core net investment income of 0.37 per share [2][9] - The company funded 109millionininvestmentsduringthequarterandreceived109 million in investments during the quarter and received 65 million in repayments, resulting in a total portfolio value of 953millionatfairvalue[2][5]−Sinceinception,investorshavereceivedatotalof953 million at fair value [2][5] - Since inception, investors have received a total of 288 million in aggregate distributions, equivalent to 16.69pershare[2]FinancialHighlights−ForthethreemonthsendedDecember31,2024,netinvestmentincomewas16.69 per share [2] Financial Highlights - For the three months ended December 31, 2024, net investment income was 9.64 million, or 0.35pershare,comparedto0.35 per share, compared to 11.91 million, or 0.49pershareforthesameperiodin2023[3][9]−Corenetinvestmentincomeforthesameperiodwas0.49 per share for the same period in 2023 [3][9] - Core net investment income for the same period was 10.15 million, or 0.37pershare,downfrom0.37 per share, down from 12.16 million, or 0.50persharein2023[3][9]−Totalrealizedincomeforthequarterwas0.50 per share in 2023 [3][9] - Total realized income for the quarter was 15.57 million, with distributions totaling 10.90million,or10.90 million, or 0.40 per share [3][14] Portfolio Activity - As of December 31, 2024, investments at fair value increased to 953.5millionfrom953.5 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 108.5million,whilerepaymentsamountedto108.5 million, while repayments amounted to 64.5 million [5] Liquidity and Capital Resources - The company's credit facility allows for borrowings up to 315million,withanaccordionfeatureforpotentialexpansionto315 million, with an accordion feature for potential expansion to 350 million [12] - As of December 31, 2024, outstanding borrowings under the credit facility were 175.4million,comparedto175.4 million, compared to 160.1 million a year earlier [13] Distributions - The company declared aggregate distributions of 0.40pershareforboththethreemonthsendedDecember31,2024,and2023,totaling0.40 per share for both the three months ended December 31, 2024, and 2023, totaling 10.9 million and 9.6million,respectively[14]−Approximately9.6 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]