Fidus' Q3 investment income rises on higher interest and fees

By Reuters News


Overview

  • US debt financier's Q3 total investment income rose yr/yr, driven by higher interest and fees

  • Adjusted net investment income per share grew to $0.54 from $0.50 a year earlier

  • Company declared Q4 dividend totaling $0.54 per share, including supplemental dividend


Outlook

  • Fidus declares Q4 dividend of $0.54 per share, including $0.11 supplemental dividend

  • Company says it will focus on investing in companies with defensive traits and growth potential

  • Company says final 2026 dividend tax attributes to be determined after year-end


Result Drivers

  • HIGHER DEBT INVESTMENT BALANCES - Co said increased average debt investment balances drove higher interest income

  • FEE INCOME - Co said increase in prepayment and management services fees boosted fee income

  • LOWER DIVIDEND INCOME - Co said decrease in distributions from equity investments reduced dividend income


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Asset Value

$774.40 mln

Q3 Net Asset Value Per Share

$19.47


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the closed end funds peer group is "buy"

  • Wall Street's median 12-month price target for Fidus Investment Corp is $21.00, about 6.6% above its November 4 closing price of $19.70

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Nov 2 - New Mountain Finance Q3 adjusted net investment income falls YoY

  • Nov 5 - FS KKR Capital Q3 net investment income per share rises

  • Nov 3 - SLR Investment Q3 investment income falls on smaller portfolio


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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