$LRFC reports positive Q4 and FY2022 financial results
Mar 9th 2023, 10:22 pm
Analyst Summary: Logan Ridge Finance Corporation revealed their financial results for Q4 and FY2022, where the net investment income of the quarter was $0.23 per share – marking two consecutive quarters of positive net investment income that tripled the previous quarter’s results. The quarterly distribution has been restored to $0.18 per share for Q1 of 2023, and the board of directors authorized a $5 million share repurchase program. The company’s primary focus is on investing in first lien loans, second lien loans, and equity securities issued by lower middle-market companies that operate with relatively low levels of cyclicality and operating risk. Mount Logan Capital, Inc. is an alternative asset management company that actively sources, evaluates, underwrites, manages, monitors, and primarily invests in loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle. Management is aiming to continue the company’s transition to a more stable and higher dividend-paying BDC. CEO Ted Goldthorpe said in a statement, "After a pivotal 2022, we enter 2023 in a strong position to continue our work transitioning the Company to a more stable, higher earning and higher dividend paying BDC." The company will be holding a conference call on March 10 to discuss their Q4 and full-year 2022 financial results. Investors are advised to conduct thorough research before making any investment decisions.