Main Street Capital Corporation announced its financial results for the third quarter ended September 30, 2024, on November 7, 2024. The company reported net investment income (NII) of $1.00 per share and distributable net investment income (DNII) of $1.06 per share.
Net asset value (NAV) reached a new record of $30.57 per share, marking the ninth consecutive quarter of NAV per share growth. Total investment income increased by $13.6 million, or 11%, to $136.8 million compared to the third quarter of 2023.
The increase in total investment income was driven by an $11.2 million rise in interest income and a $2.0 million increase in dividend income, primarily from lower middle market portfolio companies. The company also reported a $26.4 million net realized gain from investments, largely due to the full exit of a private loan investment.
Non-accrual investments comprised 1.4% of the total investment portfolio at fair value and 3.9% at cost as of September 30, 2024. Main Street also declared a $0.30 per share supplemental dividend payable in December 2024, reflecting its strong performance.
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