As Fifth Street Senior Floating Rate approaches its one-year anniversary as a public company, the company has deployed the equity raised during its July 2013 IPO, reaching and maintaining leverage within the target range of 0.8x to 0.9x debt-to-equity and increasing net investment income per share.

On the heels of these accomplishments, the Board of Directors recently declared a quarterly dividend of $0.30 per share, representing an annualized run rate of $1.20 per share and an 11% quarter-over-quarter increase. The September quarterly dividend represents the company’s fourth consecutive quarterly dividend increase.

Today, FSFR has a high-quality portfolio consisting of 100% senior secured floating rate loans to 38 portfolio companies. After becoming fully deployed in the March quarter, FSFR has continued to optimize its portfolio by rotating out of certain assets into new originations.

FSFR is in the process of structuring a strategic partnership between FSFR and GF Funding 2014, an entity controlled by the Glick family, to establish a joint venture to co-invest primarily in middle market senior secured loans.