Dave Dullum: Yes. Well, I think Bryce, we may have talked about this. And I certainly mentioned this I think on all €“ most of these calls as we know. The model that we drive here at Gladstone Investment as a €œbuyout fund€, right, being a little bit unique in the in the BDC space, where we have a large percentage, relatively speaking of our investments in the equities of the companies, right. So, we are not just getting €“ as you well know, we are not just getting a sort of equity kicker, we actually are the dominant equity source. And that’s our strategy and our plan. So, having said that, we are also at the same time though, want to be sure that we are very cognizant of the need to continue paying very stable monthly distributions to shareholders.
And we have been able to, as David Gladstone mentioned, done that for a long, long time. We will continue doing that. And we will continue to increase those as we did roughly, I think 6.7% this period, because we are earning it on a monthly basis. And that’s our focus. Therefore, the supplementals if you will, a little bit about, I don’t want to say good news, bad news. The good news is our strategy. And our plan is to be able to continue as we harvest companies by exit, whether in the case of a supplemental coming from, say the Old World, which again is not going to happen all that frequently, these dividend recaps, frankly. But when we exit a business, we will probably have a couple of exits this year, that’s our plan. We want to be able to do that, so we can provide the supplementals.
But having said that, we are not really in a position to tell you or tell anyone that we have a plan that we are going to be able to make a distribution from supplementals in June as an example. That’s just not the nature of the beast. It is going to be as we can manage the portfolio, manage to exits and therefore have the ability to make supplemental, that clearly is our plan. But is going to be a little bit less certain in that regard, than certainly what we expect on our monthly distributions.
Bryce Rowe: Okay. Yes. That makes a lot of sense. I appreciate you taking the time this morning.
David Gladstone: And Bryce, just so you know, sometimes you see analysts out there writing information about the number of deals we have that are on non-accrual. And that’s a comparison with all of these BDCs that are just income oriented. They don’t have any capital gains or any upside. So, when you compare us to the regular BDCs, you are getting a 7% yield plus the opportunity for these increases in capital gains that go through as an extra dividend. But it shouldn’t be compared. We shouldn’t be compared in this company with a world of BDCs, simply because they are just lending money. We are doing both. And I think that should be taken into account. Do we have any more questions?
Bryce Rowe: Appreciate that.
Operator: We do not. There are no further questions. I would like to hand the call back over to you Mr. Gladstone.
David Gladstone: Alright. Thank you very much. It was very nice to have such a wonderful quarter to report. Dave and Rachael did a great job of cleaning up the place and putting money out. It’s really nice. If there any other questions, your last chance is now, hit the button. Alright, then we will see you again next quarter. That’s the end of this call.
Operator: Thank you. That does conclude today’s teleconference. We appreciate your participation. You may disconnect your lines at this time. Enjoy the rest of your day.
