The following is a summary of the Logan Ridge Finance Corporation (LRFC) Q4 2023 Earnings Call Transcript:
Financial Performance:
Logan Ridge Finance Corporation reported a net investment income for the year ended December 31, 2023, of $3.8 million or $1.43 per share, representing an increase of $5 million compared to a net investment loss of $1.2 million or $0.43 a share for the previous year.
The quarterly distribution increased by 7%, making it $0.32 per share for the first quarter of 2024. This is the fourth consecutive quarterly distribution increase - a 77.8% increase from the previous year.
Business Progress:
Management indicated optimism for 2024 boosted by increased M&A activity and private credit deal activity.
The portfolio's fair value as of December 31, 2023, was approximately $189.7 million with exposure to 60 portfolio companies.
Logan Ridge plans to continue strategically deploying capital into new borrowers in 2024.
More details: Logan Ridge Finance Corp IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.