Seeking Alpha

Fidus Investment (FDUS) is one of the newer business development companies ("BDCs") but its stock performance has been strong with a steady climb to higher-than-average multiples. This is most likely due to its higher-than-average 'total return' of around 16%. Last quarter, FDUS grew its net asset value ("NAV") per share more than any of the other 25 BDCs that I follow and announced a special dividend on top of its regular dividends which is currently yielding around 8%. The company announced that it received approval for a second SBIC license giving it access to cheap long-term growth capital to grow the portfolio and dividends. FDUS also reported realized gains in Q3 from exited investments that could...

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