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Fidus Investment Corporation (symbol: FDUS) is a reputable business development company (BDC) that provides customized debt and equity financing solutions focusing on lower middle-market companies in the United States. As an externally managed, closed-end, non-diversified management investment company, Fidus has elected to be treated under the Investment Company Act of 1940 as a BDC. The primary objective is to offer attractive risk-adjusted returns through generating current income from debt investments and capital appreciation from equity-related investments.
Fidus specializes in various financial transactions such as leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, and strategic acquisitions. Their investment modalities include mezzanine, growth capital, business expansion investments, and a variety of debt and equity vehicles like subordinated and second lien loans, senior secured debt, preferred equity, and warrants.
Fidus generally avoids turnarounds or distressed situations. Instead, the firm focuses on sectors including aerospace and defense, business services, consumer products, healthcare products, industrial services, IT services, niche manufacturing, transportation, and value-added distribution. The typical investment size ranges from $5 million to $15 million per transaction.
In recent developments, Fidus has been actively growing its portfolio. For instance, in the third quarter of 2023, Fidus invested $18.0 million in first lien debt and preferred equity in White Label Communications, LLC. They also issued $3.0 million in SBA debentures and exited their debt investments in GP&C Operations, LLC and Power Grid Components, Inc., receiving payments in full including prepayment fees.
In the fourth quarter of 2023, Fidus highlighted their financial growth with $957.9 million of assets under management on a fair value basis. The firm generated an adjusted net investment income (NII) of $0.65 per share, surpassing the base dividend of $0.43 per share. For the entire year, adjusted NII per share grew by 36.2% to $2.56, and Fidus realized net gains of $0.85 per share while distributing a total of $2.88 per share to shareholders.
Looking forward, Fidus aims to continue its selective portfolio growth strategy to achieve its long-term objectives of enhancing net asset value, preserving capital, and delivering attractive risk-adjusted returns.
Fidus Investment (NASDAQ:FDUS) reported strong financial results for Q3 2024, with total investment income of $38.4 million and net investment income of $21.4 million ($0.64 per share). The company invested $65.9 million in debt and equity securities, including three new portfolio companies, while receiving $50.8 million from repayments. The Board declared total dividends of $0.61 per share for Q4 2024, comprising a $0.43 base dividend and $0.18 supplemental dividend. The investment portfolio totaled $1,090.7 million across 85 active portfolio companies, with a weighted average yield on debt investments of 13.8%. The company maintained strong liquidity with $54.4 million in cash and $100 million unused credit facility capacity.
Fidus Investment (NASDAQ: FDUS) has announced its schedule for third quarter 2024 financial results release and conference call. The company will report its Q3 2024 results on Thursday, October 31, 2024 after market close. Management will host a conference call to discuss results on Friday, November 1, 2024, at 9:00am ET. Participants can join via phone at (844) 808-7136 (US) or (412) 317-0534 (International). A live webcast will be available at the company's investor relations website, with replay access available two hours after the call.
Fidus Investment (NASDAQ:FDUS) announced its Q2 2024 financial results. Key highlights include:
- Total investment income of $35.7 million, up 16.7% year-over-year
- Net investment income of $17.0 million, or $0.53 per share
- Adjusted net investment income of $18.4 million, or $0.57 per share
- NAV of $646.8 million, or $19.50 per share
- Invested $62.4 million in debt and equity securities
- Received $43.1 million from repayments and realizations
The Board declared total dividends of $0.57 per share for Q3 2024, including a $0.43 base dividend and $0.14 supplemental dividend. The company's debt investment portfolio yielded 14.0% as of June 30, 2024.
Fidus Investment (NASDAQ: FDUS) has announced its schedule for releasing second quarter 2024 financial results. The company will report its Q2 2024 results on Thursday, August 1, 2024, after the financial markets close. Following this, management will host a conference call to discuss the operating and financial results on Friday, August 2, 2024, at 9:00am ET.
To participate in the conference call, investors can dial (844) 808-7136 (US) or (412) 317-0534 (International) approximately 10 minutes before the call starts. A live webcast of the conference call will be available on the company's investor relations website. A webcast replay will be accessible two hours after the call concludes.
Fidus Investment (NASDAQ:FDUS) announced its first quarter 2024 financial results, including total investment income of $34.7 million and net investment income of $17.6 million. The company paid total dividends of $0.65 per share and had a net asset value of $608.3 million as of March 31, 2024. Management commentary highlighted the healthy portfolio and attractive returns for shareholders.
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