Main Street Capital Corporation announced its financial results for the first quarter ended March 31, 2025, on May 8, 2025. The company reported net investment income (NII) of $1.01 per share and distributable net investment income (DNII) of $1.07 per share.
Net asset value (NAV) reached a new record of $32.03 per share, driven by significant unrealized appreciation on its lower middle market portfolio investments. The company achieved an annualized return on equity of 16.5%.
Total investment income increased by $5.4 million, or 4%, to $137.0 million compared to the first quarter of 2024. This increase was primarily attributable to a $13.2 million, or 58%, increase in dividend income, largely from LMM portfolio companies.
Non-accrual investments comprised 1.7% of the total investment portfolio at fair value and 4.5% at cost as of March 31, 2025. Main Street also declared a $0.30 per share supplemental dividend payable in June 2025, marking its fifteenth consecutive quarterly supplemental dividend.
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