---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-026827"
form_type: "8-K"
ticker: "BCSF"
cik: "0001655050"
company_name: "Bain Capital Specialty Finance, Inc."
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T22:18:00.879074+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-026827
- form_type: 8-K
- ticker: BCSF
- cik: 0001655050
- company_name: Bain Capital Specialty Finance, Inc.
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1655050/000110465923026827/0001104659-23-026827-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1655050/000110465923026827/tm238073d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-026827
- JSON: https://secwatch.observer/filing/0001104659-23-026827.json
- Plain text: https://secwatch.observer/filing/0001104659-23-026827.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1655050/000110465923026827/0001104659-23-026827-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.