Fidus Investment Corporation Announces Third Quarter 2016 Financial Results

Regular Quarterly Dividend of $0.39 Per Share Declared for Fourth Quarter 2016

Board of Directors Declares Special Cash Dividend of $0.04 Per Share

EVANSTON, Ill., Nov. 03, 2016 (GLOBE NEWSWIRE) -- Fidus Investment Corporation (NASDAQ:FDUS) ("Fidus" or the "Company"), a provider of customized debt and equity financing solutions primarily to lower middle-market companies based in the United States, today announced its financial results for the third quarter ended September 30, 2016.

Third Quarter 2016 Financial Highlights
  • Total investment income of $14.4 million
  • Net investment income of $6.7 million, or $0.35 per share
  • Adjusted net investment income of $7.1 million, or $0.37 per share (1)
  • Net increase in net assets resulting from operations of $8.6 million, or $0.45 per share
  • Invested $60.0 million in debt and equity securities including three new portfolio companies
  • Received proceeds from sales and realizations of $45.9 million
  • Paid regular quarterly dividend of $0.39 per share on September 23, 2016
  • Net asset value (NAV) of $299.3 million, or $15.58 per share, as of September 30, 2016

Management Commentary

"For the third quarter, our investment portfolio continued to deliver solid results reflecting the overall stability and quality of our debt and equity investments.  Market activity picked up during the quarter and has remained at healthy levels.  As a result, we grew the portfolio by a net $14.1 million in the third quarter.  We closed transactions consistent with our practice of focusing on high-quality companies in industries we know well, that generate strong free cash flow and have positive long-term outlooks," said Edward Ross, Chairman and CEO of Fidus Investment Corporation.  "Our Board of Directors has declared a special cash dividend for the eighth time since our IPO in June 2011 and remains focused on delivering stable dividends for our shareholders. Having ended the quarter with approximately $153 million of available liquidity, we have ample funds to further grow our portfolio in a deliberate manner focused on capital preservation and attractive risk-adjusted returns."  

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