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Stellus Capital Investment Corporation reports news as an externally managed, closed-end, non-diversified investment management company that has elected business development company regulation under the Investment Company Act of 1940. The company invests primarily in private middle-market companies through first lien, second lien, unitranche and mezzanine debt financing, often alongside equity investments, with Stellus Capital Management serving as investment adviser.
Recurring announcements cover quarterly and annual financial results, portfolio funding and repayments, interest income from debt investments, realized and unrealized investment gains or losses, regular monthly dividend declarations, and conference-call schedules tied to financial reporting.
Stellus Capital Investment Corporation (NYSE: SCM) has amended and extended its $230 million Senior Secured Revolving Credit Agreement. The commitment termination date has been extended to September 18, 2024, with a final maturity of September 18, 2025. The revision includes a reduction in required asset coverage while pricing and advance rates remain unchanged, with the addition of a LIBOR floor of 0.25%. CEO Robert T. Ladd expressed appreciation for the support from its banking group amid COVID-19.
On September 13, 2020, Stellus Capital Investment Corporation (NYSE: SCM) declared a quarterly dividend of $0.25 per share and a special dividend of $0.06 per share for the fourth quarter of 2020. The ex-dividend date is set for December 14, 2020, and the payment date for these dividends is December 29, 2020. This announcement underlines the company's commitment to providing returns to its shareholders.
On July 29, 2020, Stellus Capital Investment Corporation (NYSE: SCM) announced a regular quarterly dividend of $0.25 per share for Q3 2020. The ex-dividend date is set for September 14, 2020, while the record date is September 15, 2020. Shareholders can expect payment on September 30, 2020. Stellus Capital aims to provide total returns through investments in private middle-market companies, primarily using various debt financing methods.
Stellus Capital Investment Corporation (SCM) reported strong financial results for Q2 2020, with net investment income of $5.44 million or $0.28 per share, surpassing distributions of $0.25 per share. The net asset value increased by 15% to $13.34 per share, and overall liquidity exceeded $45 million. The company declared a regular dividend of $0.25 per share for Q3 2020. However, net realized loss on investments totaled $3.89 million, reflecting ongoing market challenges.
Stellus Capital Investment Corporation (NYSE: SCM) will disclose its financial results for the quarter ending June 30, 2020, on July 31, 2020, prior to market opening. A conference call to discuss these results is scheduled for the same day at 10:00 AM CDT, featuring CEO Robert T. Ladd and CFO W. Todd Huskinson. The company, which focuses on investing in private middle-market firms, aims to maximize total returns through various debt financing methods. Additional information can be accessed through their website.
Stellus Capital Investment Corporation (NYSE: SCM) provided an update for the second fiscal quarter ended June 30, 2020. All borrowers on accrual status made their payments, with no new non-accruals added since April 1, 2020. The Company declared a $0.25 per share dividend and expects net asset value to increase due to tightening credit spreads. Borrowings under the Credit Facility declined by $25 million to $185 million, with $45 million in unused capacity. Cash balances totaled approximately $23 million, with $19.5 million at SBIC subsidiaries, and unfunded commitments were about $27.6 million.
Stellus Capital Investment Corporation (NYSE: SCM) has declared a regular quarterly dividend of $0.25 per share for the second quarter of 2020, marking a shift from monthly to quarterly payments. The dividend is attributed to the current lower interest rate environment. The ex-dividend date is set for July 14, 2020, with a record date of July 15, 2020, and payment scheduled for July 31, 2020. Looking ahead, the Company aims to declare its third-quarter dividend by September 30, 2020.