MSC Income Fund, Inc. announced its financial results for the second quarter ended June 30, 2025, on August 13, 2025. The company reported net investment income of $0.35 per share, an increase from $0.33 per share in the second quarter of 2024.
Total investment income for the second quarter of 2025 increased by $1.7 million, or 5%, to $35.6 million compared to the prior year period. This increase was primarily driven by a $0.9 million increase in dividend income, a $0.5 million increase in interest income, and a $0.3 million increase in fee income.
Total expenses, net of waivers, decreased by $1.2 million, or 6.4%, to $18.3 million from $19.6 million in the second quarter of 2024. This reduction was mainly due to a $0.9 million decrease in interest expense and a $0.3 million decrease in base management fees. The annualized expense ratio (excluding incentive fees) decreased to 1.9%. Net realized gains were $4.8 million, compared to $0.3 million in the prior year. Non-accrual investments comprised 2.6% of the total investment portfolio at fair value and 6.3% at cost as of June 30, 2025. The Private Loan portfolio included total investments at cost of approximately $764.3 million.
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