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WhiteHorse Finance, Inc. Announces Fourth Quarter and Full Year 2024 Earnings Results and Declares Quarterly Distribution of $0.385 Per Share
WHFWhiteHorse Finance(WHF) Prnewswire·2025-03-07 12:30

Core Viewpoint - WhiteHorse Finance, Inc. reported its financial results for Q4 and the year ended December 31, 2024, highlighting a distribution of 0.385pershare,despitefacingchallengesinitsinvestmentportfolio[1][2].FinancialPerformance−TotalinvestmentincomeforQ42024was0.385 per share, despite facing challenges in its investment portfolio [1][2]. Financial Performance - Total investment income for Q4 2024 was 21.009 million, down from 22.851millioninQ32024,representingan8.122.851 million in Q3 2024, representing an 8.1% decrease [3]. - Total expenses, including excise tax, decreased by 4.9% to 13.032 million from 13.697million[3].−NetinvestmentincomeforQ4was13.697 million [3]. - Net investment income for Q4 was 7.977 million, a decline of 12.9% from 9.154millioninQ3[3].−Thenetinvestmentincomepersharedecreasedto9.154 million in Q3 [3]. - The net investment income per share decreased to 0.343 from 0.394,alsoa12.90.394, also a 12.9% drop [3]. - The company declared a special distribution of 0.245 per share during the same period [3][7]. Portfolio and Investment Activity - As of December 31, 2024, the fair value of the investment portfolio was 642.2million,downfrom642.2 million, down from 654.3 million as of September 30, 2024, a decrease of 1.9% [4]. - The portfolio consisted of 127 positions across 71 companies, with a weighted average effective yield of 12.5% on income-producing debt investments [4]. - The average debt investment size was 5.5million,with78.25.5 million, with 78.2% in first lien secured loans [4]. - During Q4, the company invested 27.4 million in six new portfolio companies and added 8.0milliontoexistingcompanies[5].−Proceedsfromsalesandrepaymentstotaledapproximately8.0 million to existing companies [5]. - Proceeds from sales and repayments totaled approximately 32.5 million, driven by full repayments from several companies [5]. Distributions - The board declared a distribution of 0.385pershareforQ42024,payableonApril4,2025,tostockholdersofrecordasofMarch21,2025[1][7].−Thisdistributionmarkstheforty−ninthconsecutivequarterwithdistributionsatorabove0.385 per share for Q4 2024, payable on April 4, 2025, to stockholders of record as of March 21, 2025 [1][7]. - This distribution marks the forty-ninth consecutive quarter with distributions at or above 0.355 since the company's IPO [8].