Monroe Capital Corporation BDC (Nasdaq: MRCC) Announces Fourth Quarter and Full Year 2021 Results
March 3, 2022
Source: Monroe Capital Corporation BDC
Fourth Quarter 2021 Financial Highlights:
• Paid quarterly dividend of $0.25 per share
• Current annual cash dividend yield to shareholders of approximately 9.2%1
• Shares trading at a Price to NAV of 0.97x2
• Net investment income of $5.4 million, or $0.25 per share
• Adjusted Net Investment Income (a non GAAP measure described in our press release) of $5.4 million, or $0.25 per share
• Net increase in net assets resulting from operations of $6.8 million, or $0.32 per share
• NAV of $249.5 million, or $11.51 per share
1. Based on an annualized dividend and closing share price as of March 1, 2022
2. Based on closing share price as of March 2, 2022 and book value share as of December 31, 2021
Full Year 2021 Financial Highlights:
• Net investment income of $22.2 million, or $1.03 per share
• Adjusted Net Investment Income (a non-GAAP measure described below) of $22.5 million, or $1.04 per share
• Net increase in net assets resulting from operations of $32.5 million, or $1.51 per share
Chief Executive Officer Theodore L. Koenig commented, “We are pleased to report another quarter of strong and consistent financial results. During the fourth quarter, we reported our seventh consecutive quarterly increase in our Net Asset Value. Adjusted Net Investment Income for the quarter covered our dividend and our current annual cash dividend to shareholders is approximately 9.2%1 . The M&A market continues to be very active, and we are well positioned to support the financing needs of our clients that have resilient business models and positive long-term outlooks. As part of the Monroe Capital platform we are a significant player in providing private credit in the lower middle market and our new deal pipeline remains strong for both sponsored and non-sponsored transactions. As always, we continue to be focused on adhering to our underwriting principles and generating strong risk-adjusted returns to create shareholder value.”
To read the Fourth Quarter Press Release in its entirety, please click on the following link:
Monroe Capital Corporation 4th Quarter and Full Year 2021 Earnings Press Release
About Monroe Capital Corporation
Monroe Capital Corporation is a publicly-traded specialty finance company that principally invests in senior, unitranche and junior secured debt and, to a lesser extent, unsecured debt and equity investments in middle-market companies. The Company's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation. The Company's investment activities are managed by its investment adviser, Monroe Capital BDC Advisors, LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended, and an affiliate of Monroe Capital LLC. To learn more about Monroe Capital Corporation, visit www.monroecap.com.
About Monroe Capital LLC
Monroe Capital LLC (“Monroe”) is a premier boutique asset management firm specializing in private credit markets across various strategies, including direct lending, asset-based lending, specialty finance, opportunistic and structured credit, and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, Naples, New York, San Francisco, and Seoul.
Monroe has been recognized by both its peers and investors with various awards including Private Debt Investor as the 2021 Senior Lender of the Year, 2021 Lower Mid-Market Lender of the Year, Americas; Creditflux as the 2021 Best U.S. Direct Lending Fund; Global M&A Network as the 2021 Mid-Markets Lender of the Year, U.S.A.; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information, please visit www.monroecap.com.
