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Stellus Capital Investment Corporation (NYSE: SCM) is an externally-managed, closed-end, non-diversified investment management company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Headquartered in Houston, Texas, Stellus Capital is dedicated to maximizing the total return for its stockholders through a combination of current income and capital appreciation.
The company primarily invests in private middle-market companies with EBITDA ranging between $5 million to $50 million. Stellus Capital employs a strategic investment approach utilizing first lien, second lien, unsecured debt, and mezzanine debt financing, often coupled with corresponding equity co-investments. The sectors targeted by the company include business services, energy, industrials, government services, healthcare, software, and specialty finance.
Stellus Capital Investment Corporation is managed by its investment adviser, Stellus Capital Management, a firm known for its financial acumen and industry expertise. The company generates revenue primarily from interest income on debt investments, capital gains, and distributions.
Recent financial performances underscore the company's robust operational strategy. For the quarter ended September 30, 2023, Stellus reported a U.S. GAAP net investment income of $0.47 per share and core net investment income of $0.49 per share, covering the regular dividend declared of $0.40 per share. The loan portfolio, valued at $886 million, is yielding 11.5%. Operating expenses were detailed at $16.3 million against an investment income of $27.2 million for the same period.
Stellus maintains a solid liquidity position with a senior secured revolving credit agreement allowing for borrowings up to $265 million, with potential expansion up to $280 million. As of September 30, 2023, $162.3 million was outstanding under this facility. The company also raised $21.9 million through its At-the-Market Program (ATM Program) during the quarter.
The Board of Directors has declared consistent monthly dividends, affirming the company's commitment to shareholder returns. For the first quarter of 2024, a total of $0.40 per share will be distributed, reflecting financial stability and consistent income generation capabilities.
Stellus Capital continues to engage in disciplined portfolio management and prudent investment strategies, ensuring sustained growth and value maximization for its investors. For more information on Stellus Capital Investment Corporation, please visit their website.
Stellus Capital Investment Corporation (NYSE: SCM) is set to release its first-quarter financial results for the period ending March 31, 2021, on May 6, 2021, after market close. A conference call to discuss these results will take place on May 7, 2021, at 10:00 AM CDT, led by CEO Robert T. Ladd and CFO W. Todd Huskinson. The results are anticipated to provide insight into the company's performance, particularly its strategy of investing in private middle-market companies through various debt financing methods. For more details, visit www.stelluscapital.com.
Stellus Capital Investment Corporation (NYSE: SCM) reported its Q4 and full-year results for 2020, highlighting a net increase in net assets from operations of $20.2 million, or $1.04 per share. The company saw a rise in net asset value per share to $14.03, with a total investment income of $56.7 million, down from $58.9 million in 2019. Despite paying $1.15 in dividends, the company faced a net realized loss of $10.1 million on investments. Stellus improved liquidity through refinancing initiatives and increased investments by $43 million since year-end 2020.
Stellus Capital Investment Corporation (SCM) will announce its fourth quarter and annual financial results for 2020 on March 4, 2021, following market closure. A conference call to discuss these results is scheduled for March 5, 2021, at 10:00 AM CDT, led by CEO Robert T. Ladd and CFO W. Todd Huskinson. The call can be accessed via phone or live webcast, with a replay available for a limited time. Stellus Capital primarily invests in private middle-market companies, targeting total returns through income and capital appreciation.
Stellus Capital Investment Corporation (NYSE: SCM) has announced a shift from quarterly to monthly dividend payments starting January 31, 2021. The Board of Directors declared a monthly dividend of $0.0833 per share for January, February, and March 2021, totaling $0.25 per share for the first quarter. CEO Robert T. Ladd expressed confidence in the company's strong liquidity and stable asset quality, believing the impact of COVID-19 has significantly diminished.
Stellus Capital Investment Corporation (NYSE: SCM) announced the pricing of a public offering of $100 million of 4.875% notes due 2026. The notes will mature on March 30, 2026 and will bear interest at a rate of 4.875%, payable semi-annually starting September 30, 2021. Proceeds will be used to redeem 5.75% notes due 2022 and repay credit facility debt, with a current outstanding amount of $171.0 million. The offering, managed by Raymond James, is expected to close around January 14, 2021.
Stellus Capital Investment Corporation (NYSE: SCM) reported its Q3 2020 results, revealing a net investment income of $5.33 million or $0.27 per share, surpassing the $0.25 distribution. The company announced total distributions of $0.56 per share, including a special $0.06 distribution, to fulfill spillover income obligations. Notably, net asset value decreased to $13.17 per share, primarily due to required distributions. The firm extended its $230 million bank facility until 2025, reflecting strong liquidity despite a decline in net unrealized appreciation of investments.
Stellus Capital Investment Corporation (NYSE: SCM) will release its financial results for Q3 2020 on October 30, 2020, before market open. A conference call will follow at 10:00 AM CDT, led by CEO Robert T. Ladd and CFO W. Todd Huskinson. The company focuses on maximizing total returns through investments in private middle-market firms, typically with $5.0 million to $50.0 million in EBITDA, using various debt and equity financing methods. For more details, visit www.stelluscapital.com.
Stellus Capital Investment Corporation (NYSE: SCM) has amended and extended its $230 million Senior Secured Revolving Credit Agreement. The commitment termination date has been extended to September 18, 2024, with a final maturity of September 18, 2025. The revision includes a reduction in required asset coverage while pricing and advance rates remain unchanged, with the addition of a LIBOR floor of 0.25%. CEO Robert T. Ladd expressed appreciation for the support from its banking group amid COVID-19.
On September 13, 2020, Stellus Capital Investment Corporation (NYSE: SCM) declared a quarterly dividend of $0.25 per share and a special dividend of $0.06 per share for the fourth quarter of 2020. The ex-dividend date is set for December 14, 2020, and the payment date for these dividends is December 29, 2020. This announcement underlines the company's commitment to providing returns to its shareholders.
On July 29, 2020, Stellus Capital Investment Corporation (NYSE: SCM) announced a regular quarterly dividend of $0.25 per share for Q3 2020. The ex-dividend date is set for September 14, 2020, while the record date is September 15, 2020. Shareholders can expect payment on September 30, 2020. Stellus Capital aims to provide total returns through investments in private middle-market companies, primarily using various debt financing methods.
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