Main Street Capital Corporation announced its financial results for the fourth quarter and full year ended December 31, 2024, on February 27, 2025. For Q4 2024, the company reported net investment income (NII) of $1.02 per share and distributable net investment income (DNII) of $1.08 per share.
Net asset value (NAV) reached a record $31.65 per share. The company achieved a record annualized return on equity of 25.4% for the fourth quarter and an actual return on equity of 19.4% for the full year 2024.
Total investment income increased by $11.1 million, or 9%, to $140.4 million in Q4 2024 compared to the prior year. This was driven by a $9.3 million increase in interest income and a $1.1 million increase in fee income.
The net increase in net assets resulting from operations was $174.2 million, a $35.2 million increase from Q4 2023. This included a $53.7 million realized gain from the full exit of an LMM portfolio investment. Non-accrual investments were 0.9% of the total investment portfolio at fair value and 3.5% at cost.
Main Street also declared a $0.30 per share supplemental dividend payable in March 2025, marking its fourteenth consecutive quarterly supplemental dividend. The company highlighted its strong liquidity and conservative leverage profile.
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