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MSC INCOME FUND ANNOUNCES 2024 FOURTH QUARTER AND ANNUAL RESULTS
MSCStudio City(MSC) Prnewswire·2025-03-19 20:15

Core Insights - MSC Income Fund, Inc. reported a net investment income of 0.35pershareforQ42024,withanetassetvalueof0.35 per share for Q4 2024, with a net asset value of 15.53 per share as of December 31, 2024 [1][4]. Fourth Quarter 2024 Highlights - The Fund achieved a net investment income of 14.2million,translatingto14.2 million, translating to 0.35 per share, and total investment income of 33.5million[6][10].−Therewasanetincreaseinnetassetsresultingfromoperationsof33.5 million [6][10]. - There was a net increase in net assets resulting from operations of 20.5 million, or 0.51pershare,withareturnonequityof13.20.51 per share, with a return on equity of 13.2% on an annualized basis [6][11]. - The net asset value increased by 0.15 per share, or 1.0%, from 15.38pershareasofSeptember30,2024[6].−Regularquarterlydividendsof15.38 per share as of September 30, 2024 [6]. - Regular quarterly dividends of 0.36 per share were declared, marking a 2.9% increase from the previous year [6]. Full Year 2024 Highlights - For the full year, net investment income totaled 57.3million,or57.3 million, or 1.43 per share, with total investment income of 134.8million[6][10].−Thenetincreaseinnetassetsresultingfromoperationswas134.8 million [6][10]. - The net increase in net assets resulting from operations was 56.6 million, or 1.41pershare,withareturnonequityof9.11.41 per share, with a return on equity of 9.1% [6][10]. - The net asset value slightly decreased by 0.01 per share, or 0.1%, compared to the previous year [6]. Investment Portfolio and Performance - The Fund completed 29.5millioninprivateloanportfolioinvestmentsand29.5 million in private loan portfolio investments and 30.5 million in lower middle market (LMM) portfolio investments during Q4 2024 [6][10]. - The total cost basis of the private loan investment portfolio decreased by 5.5million,whiletheLMMinvestmentportfoliosawanetincreaseof5.5 million, while the LMM investment portfolio saw a net increase of 16.4 million [6]. - As of December 31, 2024, the Fund's total investments at fair value amounted to 1.18billion,withasignificantportioninprivateloansandLMMinvestments[19][20].LiquidityandCapitalResources−TheFundhadaggregateliquidityof1.18 billion, with a significant portion in private loans and LMM investments [19][20]. Liquidity and Capital Resources - The Fund had aggregate liquidity of 77.7 million, including 28.4millionincashandcashequivalents[15].−InJanuary2025,theFundsuccessfullylisteditssharesontheNYSEandcompletedafollow−onequityoffering,generatingapproximately28.4 million in cash and cash equivalents [15]. - In January 2025, the Fund successfully listed its shares on the NYSE and completed a follow-on equity offering, generating approximately 91 million in net proceeds [16][25]. - The Fund's capital structure was enhanced through amendments to its Corporate Facility, extending the revolving period and reducing interest rates on outstanding borrowings [6][18]. Recent Developments - The Fund's Board approved modified regulatory asset coverage requirements, increasing total leverage capacity effective January 29, 2026 [17]. - A share repurchase plan was initiated, allowing the Fund to repurchase up to $65 million of its common stock over a twelve-month period starting March 2025 [27].