Fidus Investment Corporation Announces Second Quarter 2020 Financial Results

EVANSTON, Ill., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Fidus Investment Corporation (NASDAQ:FDUS) (a??Fidusa?? or the a??Companya??), a provider of customized debt and equity financing solutions, primarily to lower middle-market companies based in the United States, today announced its financial results for the second quarter ended June 30, 2020.
Second Quarter 2020 Financial Highlights

Total investment income of $20.4 million

Net investment income of $9.3 million, or $0.38 per share

Adjusted net investment income of $9.0 million, or $0.37 per share(1)

Net increase in net assets resulting from operations of $8.0 million, or $0.33 per share

Invested $16.9 million in debt and equity securities, including two new portfolio companies

Received proceeds from repayments and realizations of $2.5 million, recognizing $0.2 million in net realized gains

Paid regular quarterly dividend of $0.30 per share on June 26, 2020

Net asset value (NAV) of $376.2 million, or $15.39 per share, as of June 30, 2020

Estimated spillover income (or taxable income in excess of distributions) as of June 30, 2020 of $27.4Amillion, or $1.12 per share

Management Commentarya??Our second quarter performance reflects the strength of our strategy of selectively investing in lower middle market businesses that possess resilient business models and generate excess cash for debt service.A Despite ongoing business disruptions and uncertainties associated with the COVID-19 pandemic, our portfolio generated adjusted net investment income of $0.37 with many investments performing materially better than we had expected last quarter, and we were able to remove two of them from non-accrual status,a?? said Edward Ross, Chairman and CEO of Fidus Investment Corporation.A a??Overall, the fair value of the portfolio has stabilized after an approximately 5.7% write-down last quarter and we ended the quarter with NAV per share of $15.39.A During this period of challenging economic conditions, we will continue to manage our business conservatively focused on maintaining liquidity and on long-term capital preservation.a??ASupplemental information regarding adjusted net investment income:
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