2024-03-24 09:15:00 ET
Summary
- New Mountain Finance has paid 4 straight supplemental dividends in addition to its $.32 base dividend.
- Dividend coverage reached a record 1.23X in 2023.
- We compare New Mountain Finance to the BDC industry for valuations, performance, profitability and debt.
Business Development Companies, known as BDCs, have been reaping the rewards of higher interest rates over the past year and a half, due to the fact that their investments usually feature floating rates, while their borrowings have a high % of fixed rates....
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New Mountain Finance: 11% Yielding BDC