SCM's NII drops 26% to $0.26/share as portfolio yield falls 110bp; dividend cut 15%

Filed May 11, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 12, 2025 · ~1 min read

Key Changes

• high

  Net investment income per share fell 26% to $0.26 from $0.35, driven by lower interest income ($20.2M vs $23.1M) as weighted average portfolio yield declined 110 basis points to 8.5% from 9.6% due to lower SOFR rates on floating-rate loans.

  MD&A: Net Investment Income verify on EDGAR →
• high

  Non-accrual loans increased to six companies (9.2% of cost, 5.2% of fair value) from five companies (6.7% of cost, 4.0% of fair value); unaccrued income on these investments rose 69% to $13.2M from $7.8M, signaling deteriorating asset quality.

  MD&A: Non-Accrual Status verify on EDGAR →
• high

  Monthly dividend reduced 15% to $0.1133/share from $0.1333/share (annualized $1.36 vs $1.60), consistent with lower net investment income generation.

  MD&A: Dividends verify on EDGAR →