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Sep 30, 2021
NMFC Q3 2021 Earnings Report
Reported financial results for the quarter ended September 30, 2021, with net investment income of $0.31 per share, exceeding previous guidance. A permanent decrease in the base management fee from 1.75% to 1.40% was announced, and the previously announced dividend protection program was extended.
Key Takeaways
New Mountain Finance Corporation announced solid third-quarter performance, highlighted by $430 million in originations and a focus on investing in high-quality, defensive growth companies. The company's net asset value (NAV) per share was $13.26, and a fourth-quarter distribution of $0.30 per share was declared.
Net investment income for the third quarter was $0.31 per weighted average share, exceeding previous guidance.
NAV per share was $13.26 as of September 30, 2021.
A fourth-quarter distribution of $0.30 per share was declared, payable on December 30, 2021.
The base management fee was permanently decreased from 1.75% to 1.40%.
Forward Guidance
The company expects Q4 Net Investment Income will be at least $0.30 per share, prior to any fee waivers, and remains confident that Net Investment Income will continue to cover the quarterly dividend for the foreseeable future.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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