GLAD - 10.6% Yielding BDC Trading Below Book Value
Q2 2018 Dividend Coverage Update
Fidus Investment (FDUS) was not expected to fully cover its dividend due to non-cash expense related to unamortized operating expenses on its old registration statement as well as being underleveraged, slower portfolio growth with lower portfolio yields. However, FDUS hit my base-case projections covering 92% of its dividend. Management is carefully growing the portfolio and approaching targeted leverage with undistributed taxable income of around $0.37 per share to cover dividend shortfalls.
Edward Ross, Chairman and CEO: "From an operating perspective, second quarter results were in line with