CHICAGO, Nov. 7, 2022 (GLOBE NEWSWIRE) — Monroe Capital Corporation MRCC (“Monroe”) today announced its financial results for the third quarter ended September 30, 2022.
Unless the context indicates otherwise, the terms “Monroe”, “we”, “us”, “our” and “company” refer to Monroe Capital Corporation.
Financial highlights of the third quarter of 2022
- Net investment income of $6.3 million, or $0.29 per share
- Adjusted net investment income (a non-GAAP measure described below) of $7.1 million, or $0.33 per share
- Net decrease in net assets from operations of $0.7 million, or $0.03 per share
- Net asset value (“NAV”) of $226.0 million or $10.43 per share
- Paying a quarterly dividend of $0.25 per share on September 30, 2022
Chief Executive Officer Theodore L. Koenig commented, “We are pleased to report another strong quarter, with adjusted net investment income for the quarter exceeding our dividend. Our current annual cash dividend to shareholders is approximately 13.0%.(1). Volatility in funding markets continued in the third quarter on concerns of slowing US economic growth due to inflationary pressures and rising interest rates. Nonetheless, credit performance remains solid and we are well positioned to benefit from future rate hikes. The deal pipeline at Monroe remains strong as uncertainty in the funding markets has opened up opportunities for new deals and on more favorable credit terms. We remain committed to supporting the…
