Fidus Investment Corp (NASDAQ:FDUS)’s stock reached a 52-week high this week, hitting $21.73 and signaling a period of robust performance for the company. According to InvestingPro data, the company offers an impressive 11.2% dividend yield and has maintained consistent dividend payments for 14 consecutive years. This milestone reflects a significant uptrend in investor confidence and the company’s strong financial health over the past year. InvestingPro analysis shows the company has actually delivered a 24% total return over the past year, with a favorable P/E ratio of 7.75 and strong financial health metrics. The achievement of this 52-week high serves as a testament to the company’s strategic initiatives and its resilience in a dynamic economic landscape. For deeper insights into Fidus Investment Corp’s performance and potential, investors can access comprehensive analysis through InvestingPro’s detailed research reports.
In other recent news, Fidus Investment Corporation reported substantial growth in its Q3 earnings call. The company’s debt portfolio experienced a 20% increase, resulting in a record interest income of $33.7 million. The net asset value also saw a rise, reaching $658.8 million, an 11.8% increase from the end of 2023. Adjusted net investment income rose by 12.3% to $20.4 million, which backed dividends of $0.57 per share.
Furthermore, new investments for the quarter totaled $65.9 million, pushing the portfolio’s fair value to $1.1 billion. In addition, Fidus secured a new SBIC license, granting access to an extra $175 million in debentures.
Despite a minor decrease in the average effective yield on debt investments to 13.8% and some credit migration issues, the company maintains a strong liquidity position with approximately $154.4 million available. CEO Ed Ross expects a modest increase in merger and acquisition activity in Q4 2024 and a more active investment quarter ahead. These are the latest developments in the company’s ongoing operations.
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