MFIC Reports $0.45 Net Income per Share

By Bobby Samwell • Thursday, August 08 06:06 • Permanent Link

Midcap Financial Investment Corporation (NASDAQ: MFIC) has reported its financial results for the quarter ended June 30, 2024, with several noteworthy highlights compared to the previous quarter.

The company's net investment income per share for the quarter was $0.45, a slight increase from the $0.44 reported for the quarter ended March 31, 2024. However, the net asset value (NAV) per share as of the end of the quarter decreased slightly to $15.38, compared to $15.42 as of March 31, 2024.

During the quarter, new investment commitments totaled $285 million, and gross fundings, excluding revolver fundings, amounted to $214 million. The net fundings, including revolvers, totaled $90 million for the quarter. The company's net leverage ratio was reported at 1.45x as of June 30, 2024.

In connection with the company's mergers with Apollo Senior Floating Rate Fund Inc. (AFT) and Apollo Tactical Income Fund Inc. (AIF), the company's net assets increased by 43.7% to $1.45 billion, and the size of the portfolio grew to $3.07 billion. The mergers also led to a reduction in the company's net leverage ratio to 1.13x as of the closing date, providing more investment capacity.

The company declared a dividend of $0.38 per share payable on September 26, 2024, to stockholders of record as of September 10, 2024.

Furthermore, the company's portfolio composition, weighted average yields, and interest rate types were also detailed in the press release, offering additional insights into its financial performance.

Today the company's shares have moved -0.8% to a price of $13.02. For the full picture, make sure to review MidCap Financial Investment's 8-K report.

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