Portman Ridge Q4/FY 2023 NII $3.66/share; dividend raised to $0.69; new $10M buyback; CFO transition

BCP Investment Corp

Full-year 2023 total investment income $76.3M (+9.6% YoY); NII $34.8M ($3.66/share) vs $28.9M ($3.00/share) in 2022.
Q4 2023 NII $11.2M ($1.19/share) vs $7.1M ($0.74/share) Q4 2022; included $5.3M expense reimbursement from adviser.
NAV $213.5M ($22.76/share) at Dec 31, 2023, down from $232.1M ($24.23/share) a year ago but up from $214.8M Q3 2023.
Declared Q1 2024 dividend of $0.69/share, +$0.01 from Q1 2023. New $10M stock repurchase program through March 31, 2025.
Brandon Satoren appointed CFO/Secretary/Treasurer effective April 1, 2024; Jason Roos resigns, remains as advisor.

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