WhiteHorse Finance cuts dividend as Q1 income falls on portfolio runoff

WhiteHorse Finance

07/05/2026 12:54

May 7 (Reuters) - WhiteHorse Finance WHF.O on Thursday cut its quarterly dividend after first-quarter earnings fell from a year earlier, hurt by lower investment income, portfolio runoff and credit-related losses.

The business development company declared a quarterly dividend of 26 cents per share, down from 39 cents a year earlier.

Net investment income after excise tax fell to $5.6 million, or about 25 cents per share, for the quarter ended March 31, from $6.8 million, or about 29 cents per share, a year earlier.

Total investment income declined to $15.9 million from $18.8 million, largely due to lower interest income from portfolio investments.

WhiteHorse posted a $687,000 net decrease in net assets from operations, compared with a $4.3 million increase a year earlier. The company recorded $4.7 million in net realized losses and $1.6 million in net unrealized depreciation.

Net asset value per share fell to $11.47 as of March 31 from $11.68 at year-end. Its investment portfolio was valued at $543 million, compared with amortized cost of $573.8 million.

WhiteHorse made $28.1 million in new investments during the reported quarter, while generating $40 million from principal repayments and sales, along with $18.9 million from sales to its STRS joint venture.

 (Reporting by Patturaja Murugaboopathy in Bengaluru; Editing by Shailesh Kuber)