Main Street Capital Corporation announced its financial results for the second quarter ended June 30, 2025, on August 7, 2025. The company reported net investment income (NII) of $0.99 per share and distributable net investment income (DNII) of $1.06 per share.
Net asset value (NAV) reached a new record of $32.30 per share, primarily driven by a significant net fair value increase, which included the benefits of the largest realized gain in Main Street's history. The company achieved an annualized return on equity of 17.1%.
Total investment income increased by $11.8 million, or 9%, to $144.0 million compared to the second quarter of 2024. This increase was primarily attributable to an $11.2 million, or 42%, increase in dividend income, largely from lower middle market portfolio companies.
The net increase in net assets resulting from operations was $122.5 million, a $19.8 million increase from Q2 2024. This included a $52.4 million net realized gain from investments, with a $55.6 million realized gain on the full exit of an LMM portfolio investment. Non-accrual investments comprised 2.1% of the total investment portfolio at fair value and 5.0% at cost.
Main Street also declared a $0.30 per share supplemental dividend payable in September 2025, marking its sixteenth consecutive quarterly supplemental dividend. The company emphasized its diversified investment strategies and conservative capital structure.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.