Information Provided By:
News For MAIN From the Last 2 Days
MAIN
Apr 16, 2024 | 07:05 EDT
Sees Q1 revenue $, consensus $128.01M. Sees Q1 NAV per share $29.51-$29.57, an increase of 31c-37c per share, or 1.1% to 1.3%, from $29.20 as of December 31, 2023. CEO Dwayne Hyzak stated, "We are extremely pleased with our performance in Q1, which resulted in continued strong operating results, including a new record for NAV per share for the seventh consecutive quarter, net investment income per share and distributable net investment income per share that significantly exceeded the dividends paid to our shareholders and an estimated return on equity of 17% for the quarter...We are also pleased that we generated growth in both our lower middle market and private loan investment portfolios in Q1 and ended the quarter with attractive investment pipelines in both investment strategies, which we expect will be helpful as we work to maintain our positive momentum from the last few quarters in the future. Despite the significant increases in the total dividends paid to our shareholders over the last few years, which increased by another 20% in Q1 of 2024 compared to Q1 of 2023, our positive performance in the first quarter allowed us to continue to generate distributable net investment income per share that significantly exceeded the total dividends paid to our shareholders. Our estimated distributable net investment income for the first quarter of 2024 exceeded the monthly dividends paid to our shareholders by over 52.5% and the total dividends paid to our shareholders by over 7.5%. Based upon the continued strength of our performance in Q1, we expect another meaningful supplemental dividend to be paid in Q2 of 2024..."