SCM: net income $16.2M. SCM portfolio yield falls 120bp as non-accruals rise; buyback launched, no ATM issuance

Filed August 10, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 6, 2025 · ~1 min read

Key Changes

• high

  Weighted average debt yield fell to 9.0% year-over-year as SOFR-linked floating-rate loans repriced lower, compressing net investment income 25% to $0.52/share.

  MD&A: Portfolio Yield verify on EDGAR →
• high

  Non-accrual loans rose to 8.5% of total investments at cost (5.4% at fair value) from 6.8% (3.8% at fair value) a year earlier, indicating credit quality deterioration.

  Notes: Non-Accrual Status verify on EDGAR →
• high

  Board authorized $20M share repurchase program in March 2026; company bought back 274,343 shares for $2.4M at $8.92/share through June 30, while issuing zero shares under the ATM program (versus $13.2M raised in prior year).

  MD&A: Capital Allocation verify on EDGAR →