Gladstone Capital (US:GLAD)2025-05-07 12:30Financial Results - Net Investment Income (NII) per share was $0.50[7] - Net Asset Value (NAV) per share was $21.41, a decrease of $0.10 from the prior quarter-end[7] - Last Twelve Months (LTM) Return on Equity (ROE) was 18.6% per GAAP and 9.8% on net investment income[7] - Monthly dividends per share were $0.165, resulting in an annualized dividend yield on NAV of 9.25%[7] Portfolio Composition - Total investments at fair value amounted to $762.6 million, spread across 51 companies[7] - First-lien debt accounted for 71% of the portfolio, with 90% in secured loans[7] - The weighted average yield on debt investments decreased to 12.6% from 13.1% due to lower SOFR rates[7] - Four obligors were on non-accrual, representing $29.8 million or 4.3% of debt investments at fair value[7] Origination Activity - New investments totaled $45.6 million, including $38.3 million in two new portfolio companies[21] - Portfolio exits and prepayments reached $81.3 million, resulting in net originations of ($35.7) million[21] Capital Base and Liquidity - Outstanding debt balance was $280 million, with a quarter-end debt-to-equity ratio of 0.60x[7] - Current investment capacity stood at $251 million under undrawn committed bank lines[7]