Gladstone Capital (US:GLAD)2025-02-12 13:30Financial Performance - Net Investment Income (NII) per share was $0.50[7] - Net Asset Value (NAV) per share increased to $21.51, a rise of $0.33 from the previous quarter[7] - The company declared monthly dividends of $0.165 per share, resulting in an annualized dividend yield on NAV of 9.21%[7] - The portfolio's weighted average yield decreased to 13.1% from 14% due to lower SOFR rates[7, 20] - Net investment income for the quarter increased by $0.3 million, or 2.5%, to $11.2 million[20] Portfolio Composition and Activity - Total investments at fair value amounted to $799.5 million, spread across 51 companies[7] - 73% of the portfolio is in first-lien loans, and 89% is in secured loans[7] - The average investment per obligor is $16.0 million, representing 2% of the investment portfolio at fair value[7] - New investments during the quarter totaled $151.6 million, while exits and prepayments reached $165.2 million, resulting in net originations of ($13.7) million[20] - Four obligors are on non-accrual, representing $28.5 million or 4.0% of debt investments at fair value[7, 20] Leverage and Liquidity - Outstanding debt balance was $316 million, with a quarter-end debt-to-equity ratio of 0.68x[7] - Current investment capacity stands at $207 million under undrawn committed bank lines[7]