Fidus Investment Corporation announced its financial results for the first quarter ended March 31, 2025. Total investment income increased to $36.5 million, up 5.3% from $34.7 million in the same period of 2024. This growth was primarily driven by higher average debt investment balances and an increase in dividend income from equity investments.
Net investment income for Q1 2025 was $18.2 million, a 3.4% increase from Q1 2024. Adjusted net investment income per share was $0.54, which was flat compared to Q4 2024 but lower than Q1 2024's $0.59, impacted by incremental shares issued under the ATM program. The weighted average yield on debt investments was 13.2% in Q1 2025.
The fair value of the investment portfolio totaled $1,090.7 million as of March 31, 2025, consisting of 85 active portfolio companies. Debt investments, predominantly in first lien securities, represented approximately 88.1% of the portfolio at fair value. The company maintained a healthy liquidity position with $231.5 million as of March 31, 2025.
The Board of Directors declared a total dividend of $0.54 per share for the second quarter of 2025, comprising a base dividend of $0.43 and a supplemental dividend of $0.11 per share. This dividend reflects the company's commitment to distributing earnings to shareholders. Management anticipates a decent outlook for originations in Q2 2025, driven by pipeline opportunities.
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