Investcorp Credit reports Q1 EPS 17c, consensus 12c

Reports Q1 net asset value increased $0.01 per share to $5.49, compared to $5.48 as of December 31. Net assets increased by $0.3 M , or 0.33%, during the quarter ended March 31 compared to December 31, 2023…Mr. Suhail A. Shaikh said “As of yesterday, I have been appointed as Chief Executive Officer of ICMB, effective immediately, and will now serve as the sole Chief Investment Officer of the advisor. It is in honor to be named CEO at this time where the current lending environment favors alternative lenders such as business development companies, and we are well positioned to execute our business strategy in the current market. I want to thank Mike Mauer and am grateful to have him as a partner. Mike will continue to serve as Chairman of ICMB and will become Vice Chairman of the advisor’s private credit business. Mike will continue to serve on the investment committee of the advisor to provide his guidance and experience for the next chapter of our business. I look forward to working with Mike and the rest of the team to create shareholder value.” The Company’s dividend framework provides a quarterly base dividend and may be supplemented, at the discretion of the Board, by additional dividends as determined to be available by the Company’s net investment income and performance during the quarter. On April 12, the Board declared a distribution for the quarter ended June 30 of $0.12 per share payable on June 14 to stockholders of record as of May 26 and a supplemental distribution of $0.03 per share, payable on June 14 , to stockholders of record as of May 26.