Main Street reports Q4 distributable NII $1.12, consensus $1.03

Reports Net asset value of $29.20 per share at December 31, 2023, an increase of 3.1% vs. $28.33 per share at September 30, 2023. CEO Dwayne Hyzak stated, “We are extremely pleased with our performance in the fourth quarter, which closed another record year for Main Street across several key financial metrics. Our Q4 performance resulted in a new quarterly record for net investment income per share, distributable net investment income per share equal to our existing quarterly record that was set earlier this year, a new record for net asset value per share for the sixth consecutive quarter and a return on equity of approximately 23% for Q4. Our strong performance in the Q4 continued our positive performance from the first three quarters of 2023 and resulted in new annual records for net investment income per share and distributable net investment income per share and a return on equity of approximately 19% for the full year…The continued positive momentum across our platform in 2023 allowed us to deliver significantly increased value to our shareholders, with a 25% increase in the total dividends paid to our shareholders in 2023…we enter 2024 with very strong liquidity and a conservative leverage profile and are excited about the prospects for significant growth in both our lower middle market and private loan investment strategies…we remain confident that these strategies, together with the benefits of our asset management business and our cost efficient operating structure, will allow us to continue to deliver superior results for our shareholders.”