Monroe Capital Corporation reported a profit of $532,000 for its first quarter of 2025, with net income of $0.03 per share. Adjusted earnings per share for the quarter were $0.19.
Adjusted net investment income for Q1 2025 was $4.2 million, or $0.19 per share, a decrease from $6.2 million, or $0.29 per share, in Q4 2024. The average effective yield on the portfolio also declined to 9.2% at March 31, 2025, from 10.2% at December 31, 2024.
The company's Net Asset Value (NAV) per share declined from $8.85 to $8.63 during the quarter. Portfolio contraction was noted, with $37.6 million in legacy asset payoffs during Q1 2025.
As of June 30, 2025, ten borrowers had debt or preferred equity investments on non-accrual status, totaling $13.4 million at fair value, representing 3.6% of total investments. This figure is slightly lower than the $15.7 million on non-accrual at December 31, 2024.
The $0.25 per share quarterly dividend is supported by accumulated spillover income, which stood at approximately $0.53 per share, or $11.5 million, as of March 31, 2025. Management indicated a willingness to waive incentive fees if necessary to support the dividend.
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