WhiteHorse Finance's third-quarter 2025 results show a decline in net investment income and NAV per share, leading to a prudent reset of the quarterly base distribution amid challenging market conditions.
- GAAP net investment income decreased to $6.1 million ($0.263 per share), down from $6.6 million ($0.282 per share) in Q2.
- NAV per share declined by 3.6% to $11.41, impacted by $6.7 million in realized and unrealized losses.
- The quarterly base distribution has been reset to $0.25 per share, equating to an 8.8% annualized yield based on NAV.
- The adviser has voluntarily reduced the incentive fee from 20% to 17.5% for the next two fiscal quarters to support distributions.
- A $15 million share buyback program has been approved to take advantage of the stock's discount to book value, currently over 40%.
Community Discussion