Portman Ridge Finance Corporation (NASDAQ:PTMN) Q4 2022 Earnings Call Transcript

Ted Goldthorpe : Honestly, I agree with everything saying? last night too. I agree with all that. And so as it’s frustrating because we feel like our business is doing really well and we feel like we are really not seeing, I mean, I’m not say — we will have credit issues as well everybody, but we have an incredibly diverse portfolio. We have got like — so it’s not like one name that can really have a huge impact in our business. Again, non-accruals are basically zero. And I just look at the broad loan indices last year and see BDCs reporting flat to flat NAV and I just — to me, I mean, I won’t comment on others, but I’d just say I don’t think our numbers are wildly off where benchmarks are. So I can’t — so that’s — but what you are saying is the same question we ask ourselves as well, because I would be — if I was a shareholder, I’d be asking the same question.

I mean, the counter to all that is obviously we are buying back our stock. We raised our dividend for the fourth time. My guess is we will have continuing dividend increases timing and lag issues normalize. And so again, we are pretty optimistic for earnings this year.

Operator: . And we have no further questions at this time. I’ll hand the conference back over to management.

Ted Goldthorpe : Great. Thank you, everyone, for joining us today. And we look forward to speaking to you all in early May when we will be announcing our quarter 2023 results. Thank you very much.

Operator: Ladies and gentlemen, that will conclude today’s meeting. Thank you all for joining. You may now disconnect.