MidCap Financial Q1 net investment income per share slips to $0.38; NAV per share drops 2.5% to $13.82

PUBT · 2d ago
MidCap Financial Q1 net investment income per share slips to $0.38; NAV per share drops 2.5% to $13.82
- MidCap Financial Investment posted net investment income of USD 0.38 per share, down from USD 0.39 in prior quarter, while net asset value per share fell 2.5% to USD 13.82.
- Earnings swung to a loss of USD 0.30 per share from a profit of USD 0.32 a year earlier, driven by net realized and unrealized losses of USD 61.14 million.
- New investment commitments totaled USD 50 million as net repayments reached USD 142 million; net leverage rose to 1.55x.
- Share buybacks totaled 7,084,020 shares for USD 76 million at an average USD 10.73, with an additional 2,755,221 shares repurchased for USD 31.9 million at an average USD 11.58, fully using remaining program capacity.
- Board declared a quarterly dividend of USD 0.31 per share, payable June 25 to holders of record June 9; CEO Tanner Powell said capital was steered toward repurchases given the discount to NAV.
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