BCSF Q4 NII $0.37/sh, NAV $17.29; raises dividend to $0.38, gets BBB rating

Bain Capital Specialty Finance, Inc.

2022-FY EPS reported $1.63

Q4 net investment income $24.2M ($0.37/sh); net income $43.5M ($0.67/sh); NAV per share $17.29, up from $16.98 in Q3.
Full year 2022 NII $102.7M ($1.59/sh); net income $105.5M ($1.63/sh).
Board raises quarterly dividend 6% to $0.38/sh for Q1 2023, payable April 28, 2023 to holders of record March 31, 2023.
KBRA assigned investment grade rating BBB with stable outlook in February 2023.
Portfolio fair value $2.387B; 94.5% floating rate; weighted average yield 11.4% at cost; three non-accruals at 1.6% of fair value.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Bain Capital Specialty Finance, Inc. reported the fourth quarter and fiscal year ended December 31, 2022 results: revenue $62.4 million, net income $43.5 million, EPS $0.67.

Period: the fourth quarter and fiscal year ended December 31, 2022
Revenue: $62.4 million
Net income: $43.5 million
EPS: $0.67
Result: reported results

Exact text from the filing

For the three months ended December 31, 2022 and September 30, 2022, total investment income was $62.4 million and $58.8 million, respectively. The increase in investment income was primarily due to an increase in interest income as a result of higher base rates. Total expenses (before taxes) for the three months ended December 31, 2022 and September 30, 2022 were $37.3 million and $28.7 million, respectively. The increase was primarily driven by an increase in incentive fees due to a higher Cumulative Net Return under the Company’s incentive fee structure that has a total return three-year look back feature. (6) Net investment income for the three months ended December 31, 2022 and September 30, 2022 was $24.2 million or $0.37 per share and $30.1 million or $0.47 per share, respectively. During the three months ended December 31, 2022, the Company had net realized and unrealized gains (losses) of $19.3 million. Net increase in net assets resulting from operations for the three months

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Source: SEC EDGAR

accession 0001104659-23-026827

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