Main Street Capital Corporation (NYSE:MAIN) Q1 2024 Earnings Call Transcript

Bryce Rowe: Okay. All right. Yes, I mean, I think that’s pretty consistent with what we’ve heard throughout from the other BDC’s. Maybe another one for Jesse. You guys have clearly out earned the dividend, even with the supplementals. Jesse, do you have a good, maybe an estimate of where spillover is sitting at this point?

Jesse Morris: Yes, Bryce, I think from memory, spillover was around $70 million, $80 million. I can pull that up for you and kick back to you.

Bryce Rowe: Okay. Okay, then last one for me. It looked like non-accruals were down for the quarter on a cost basis. Any color there is it just normal ebbs and flows of non-accruals in and out of that bucket?

Dwayne Hyzak: Yes. There’s Bryce on the non-accruals, nothing significant. We had one company that we had a realized loss on. Obviously, that company, when it was on non-accrual, you comes off non-accrual. And then we had one new addition, a small addition to the non-accrual, which is why you saw that, that stat you’ll go down when you look at it on a percentage basis. Going back to Jesse’s, your question for Jesse. We’re just under 90 – I’m sorry. Just under $80 million of spillover. So. Right at a buck a share from a spillover income standpoint at the end of the quarter.

Bryce Rowe: All right, cool. Thanks a lot.

Dwayne Hyzak: Thank you, Bryce.

Operator: This concludes our question-and-answer session. I’d like to turn the floor back over to management for closing comments.

Dwayne Hyzak: We just want to say thank you again, everyone, for joining us this morning. And thank you for your continued long term support of Main Street. And we’ll look forward to talking to you again in early August after our second quarter results.

Operator: Ladies and gentlemen, thank you for your participation. This does conclude today’s teleconference. You may disconnect your lines and have a wonderful day.