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Dec 31, 2023
Bain Capital Specialty Finance Q4 2023 Earnings Report
Reported strong quarterly and full year results driven by attractive interest income, net asset value growth, and stable credit performance.
Key Takeaways
Bain Capital Specialty Finance reported strong Q4 and full year 2023 results, benefiting from attractive interest income, net asset value growth, and stable credit performance. The company declared additional dividends totaling $0.12 per share for 2024, bringing the total annualized dividend yield to 10.2%.
Net investment income (NII) per share was $0.54, equating to an annualized NII yield on book value of 12.3%.
Net income per share was $0.48, equating to an annualized return on book value of 10.9%.
Net asset value per share as of December 31, 2023 was $17.60, as compared to $17.54 as of September 30, 2023.
Investments on non-accrual remained low at 1.9% and 1.2% of the total investment portfolio at amortized cost and fair value, respectively, as of December 31, 2023.
Forward Guidance
The Company’s Board of Directors declared a dividend of $0.42 per share for the first quarter of 2024 payable to stockholders of record as of March 28, 2024 and has also declared additional dividends totaling $0.12 per share for 2024, to be distributed in four consecutive quarterly payments of $0.03 per share per quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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