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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 Corporation (NASDAQ: FDUS) will report its fourth-quarter 2021 financial results on March 3, 2022, after market close. A conference call is scheduled for March 4, 2022, at 9:00 AM ET to discuss these results. Interested participants can join via phone or watch a live webcast. Fidus specializes in providing debt and equity financing to lower middle-market companies, aiming for attractive risk-adjusted returns. The company is externally managed under the Investment Company Act and has been operational since 2011.
Fidus Investment Corporation (NASDAQ:FDUS) announced a total dividend of $0.53 per share for Q1 2022, comprising a base dividend of $0.36 and a supplemental dividend of $0.17. These dividends will be paid on March 25, 2022, to shareholders on record as of March 11, 2022. The company utilizes a revised formula for declaring dividends based on taxable income, which may include ordinary income, capital gains, qualified dividends, and return of capital. Additionally, Fidus offers a dividend reinvestment plan for shareholders.
Fidus Investment Corporation (NASDAQ:FDUS) declared a base dividend of $0.32, a supplemental dividend of $0.04, and a special dividend of $0.05 for Q4 2021. For the third quarter ended September 30, 2021, total investment income was $21.2 million, with net investment income of $5.1 million ($0.21 per share). The net asset value increased to $447.5 million ($18.31 per share). The company invested $78.2 million in new debt and equity securities. Total expenses rose to $16.1 million, mainly due to an increase in capital gains incentives.
Fidus Investment Corporation (NASDAQ: FDUS) will report its Q3 2021 financial results on November 4, 2021, after market close. A conference call is scheduled for November 5, 2021, at 9:00 am ET to discuss these results. Interested parties can participate by dialing in or accessing a live webcast. Fidus specializes in providing customized financing solutions to lower middle-market companies, focusing on generating risk-adjusted returns through debt and equity investments. The company aims to partner with business owners and management teams for various growth initiatives.
Fidus Investment Corporation (NASDAQ: FDUS) announced the pricing of a public offering of $125 million in 3.50% notes due 2026. The notes, maturing on November 15, 2026, may be redeemed at par plus a make-whole premium. Interest payments will be made semi-annually starting May 15, 2022. Proceeds will be used to redeem outstanding 6.000% and 5.375% notes due 2024 and to repay part of its revolving credit facility, currently at $40 million. The offering's close is subject to customary conditions, with expected delivery on October 8, 2021.
Fidus Investment Corporation (NASDAQ:FDUS) declared a base dividend of $0.32, supplemental dividend of $0.06, and special dividend of $0.04 for Q3 2021. The company's second quarter 2021 results showed total investment income of $21.8 million and adjusted net investment income of $10.4 million, reflecting a 15% year-over-year increase. However, net investment income decreased by 30.3% to $6.5 million due to rising expenses. The net asset value stood at $429.4 million, or $17.57 per share. Fidus is positioned for growth with 72 active portfolio companies.
Fidus Investment Corporation (NASDAQ: FDUS) will report its second quarter 2021 financial results on August 5, 2021, after market close. A conference call is scheduled for August 6, 2021, at 9:00 AM ET, where management will discuss the results. To join, dial (877) 810-3368 for U.S. callers and (914) 495-8561 for international participants, referencing conference ID #6857165. A live webcast is also available. Fidus focuses on providing customized financing solutions to lower middle-market companies in the U.S., aiming for risk-adjusted returns.
Fidus Investment Corporation (NASDAQ:FDUS) announced strong financial results for Q1 2021, with total investment income reaching $23.3 million, a 16.5% increase from Q1 2020. Net investment income was $11.1 million ($0.45 per share), down 36.4% year-over-year. The company's NAV increased to $413.0 million ($16.90 per share). Fidus declared a base dividend of $0.31 and a supplemental dividend of $0.08 per share for Q2 2021. Notably, the firm invested $63.1 million in new debt and equity securities, supported by strong repayments totaling $98.6 million.
Fidus Investment Corporation (NASDAQ: FDUS) announced it will report its Q1 2021 financial results on May 6, 2021, after market close. A conference call to discuss these results is set for May 7, 2021, at 9:00 am ET. Investors can join by dialing (877) 810-3368 or via a live webcast available on the company's investor relations website. Fidus focuses on providing debt and equity financing solutions to lower middle-market companies in the U.S., aiming for attractive risk-adjusted returns through capital appreciation and current income.
Fidus Investment Corporation (NASDAQ:FDUS) declared a regular quarterly dividend of $0.31 per share and a supplemental cash dividend of $0.07 per share. For Q4 2020, the company reported total investment income of $23.6 million and net investment income of $6.0 million ($0.25 per share). Full-year metrics showed $85.1 million in total investment income and $39.6 million in net investment income, marking a 24% increase year-over-year. NAV per share stood at $16.81 with a notable increase despite challenges posed by the pandemic. Overall, Fidus remains focused on resilient lower middle-market investments.
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