Strong Investment Income Growth
Total investment income rose 11% in the fourth quarter to $2.1 million and grew 17% for the full year to $8.6 million, driven by the focus on expanding the debt investment portfolio.
Increased Net Asset Value
Net asset value per share increased by 7% year-over-year, reaching $25.31 at year end.
Successful Portfolio Monetization
Generated approximately $27 million in cash proceeds from strategic monetization of equity investments, including the sale of SciAps.
Debt-Focused Portfolio Strategy
Shifted to a more income-generating portfolio, with debt investments now comprising 75% of the portfolio, up from 64% in 2023.
Dividend Increase
Regular quarterly cash dividend increased by 16% in the second quarter, with total dividends declared for the year reaching $5.03 per share.
Strategic Debt Reduction
Reduced outstanding bank debt by $15.7 million during the year, with $24 million available in credit facilities for future growth.
High Yield on Debt Investments
Annualized weighted average yield of debt investments was 13.8% as of December 31, 2024, an increase of 20 basis points over 2023.