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Stock impact report

New Mountain Finance outlines $0.25 quarterly dividend target and $477M asset sale to drive portfolio diversification [Seeking Alpha]

New Mountain Finance Corporation (NMFC) 
Last new mountain finance corporation earnings: 2/26 04:35 pm Check Earnings Report
US:NYSE Investor Relations: newmountainfinance.com
Company Research Source: Seeking Alpha
Steven Klinsky explained that adjusted net investment income for the fourth quarter was $0.32 per share, fully covering the $0.32 per share dividend paid on December 31. He highlighted, "Our net investment income and dividend were supported by consistent recurring income from our loan portfolio, full utilization of the dividend protection program, which reduces our performance fee to 15% until the end of 2026, plus an additional and voluntary fee waiver by the manager of $2.4 million." Klinsky announced a $0.32 dividend payable on March 31 and noted the intention to permanently reduce the incentive fee to 15% after 2026. Klinsky stated, "We have now signed an agreement to sell approximately $477 million of many of our hardest to value assets at a price meaningfully above where our stock trades. This sale is scheduled to close in March and will include a sizable piece of our Benevis term loan, several PIK and subordinated positions and some of our other most concentrated and illiqui Show less Read more
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