Runway Growth Finance Corp. reported total investment income of $33.8 million for the fourth quarter ended December 31, 2024, compared to $39.2 million in the prior-year quarter. Net investment income for the quarter was $14.6 million, or $0.39 per share, down from $18.3 million, or $0.45 per share, in Q4 2023.
For the full fiscal year 2024, total investment income was $150.0 million, and net investment income was $63.8 million, or $1.66 per share. The company's net asset value per share increased to $13.79 as of December 31, 2024, up from $13.50 at the end of 2023, driven by a net change in unrealized gain of $16.5 million in Q4 2024.
The Board of Directors declared a regular quarterly distribution of $0.33 per share and a supplemental distribution of $0.03 per share for the first quarter of 2025, payable on April 14, 2025. This represents a change in the regular dividend amount from the previous $0.40 per share. The company also completed its $25.0 million Second Repurchase Program and continued repurchases under a new $15.0 million Third Repurchase Program.
Recent developments include the closing of the BC Partners Credit acquisition of Runway Growth Capital LLC on January 30, 2025, and the approval of an amended advisory agreement by stockholders on January 23, 2025. The company also amended its credit facility on March 18, 2025, extending its maturity and revolving period, and expanded its Board of Directors from five to eight members, with new appointments effective March 21, 2025.
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