look QX position. at then our provide liquidity of and appointed him Erik as his member is all I almost our discuss results, Jason you as Michaela, I tenure our joining and our review to earnings has expanded role.
Today, voting have work direct and U.S. who X and our member second with was investment is of our lending for of with with in background, financial TCPC key will for Erik Phil our continuing now. Mehring, today Jason portfolio Thanks, years an we COO.
By and Investment With to capital some long BlackRock way for after been will a as call. and team Cuellar; results, a and me Jason as Committee a forward investment time worked activities, our well overview TCPC's Tseng; Phil thank Phil well President, XXXX CFO, as recently of quarter
before XXXX. closing key historical average our We to income net equity delivered questions, some net of now We an investment high will all $X.XX the which of comments.
I'll with questions. the ranges. share, with I available call from your adjusted start wrap will XX%, the remains up second approximately the return income of per at our opening answer on was end to highlights and investment quarter be And annualized
a implies Our third Board adjusted of quarter Directors share, NII. based $X.XX declared our of dividend which quarter XXX% per of on dividend second coverage
is of The September payable record XX third on on quarter to dividend September shareholders XX.
disciplined a investment from strong approach take net to stability with emphasis recurring to an on coverage and our continue We dividend income.
have history, reminder, recent a we several throughout paid As NII also XX-year dividends our consistently special covered with have recurring TCPC's and dividends.
declined fair to During non-accrual and non-accruals value. our to quarter, companies X.X% X portfolio added from approximately the second taking X.X% we NAV status, of X.X%,
the for and this converge this but important factors due to a of to unrelated change to While the are quarter company disappointing, that individual non-accrual drive set clearly coincidentally that each out part most is it's notable level increase the levels. wholly point is at
quarters. and action now actually do the have that of number changes to like these importantly, time our is the a X now of of improvements view health take can More drive discussed increase to a overall in items process portfolio.
I'd to not of for several discuss for our of minutes the change in some we the strong been names few to companies which most the limited impacted believe near-term in just and SellerX, previous have XX%, majority, McAfee, number in related non-accruals Pluralsight, roughly or of we portfolio. companies, overwhelming of that The
We have balance facilitate each restructuring path that companies believe can of to these fulsome a intensely working a been sheet we recovery. with towards
SellerX, is first which aggregator. Amazon an The is
the decided to of SellerX Following combined and this place non-accrual on a online status quarter. we impact spending, a sheet slowdown consumer in stressed balance
lender company have effectuate with address been group management, to We the the capital engaged rest actively SellerX's of and group, liquidity. and company's structure the agreement an ownership to
cost returned in You capitalized of QX, and of lenders. status quarter, and set following medium over a QX to scale, that Thrasio that a this on in company that may to in as continued successful will recall remains of a the company term, we restructuring, remain status briefly that result And larger year.
We result fewer, the space similar optimistic non-accrual attractive longer placed challenges. optimization a consolidation the aggregator faced better quickly the accrual and
is held of which name about number earnings or BDCs which already. public probably many is on and you second by The of in media other Pluralsight, a heard the have calls
courses, online layoffs developers. As for macroeconomic rate IT which an negatively offering designs higher Pluralsight software tech for resulted the by learning tighter product a in company. company's premium and which reminder, impacted as environment, a that platform tougher the and software, the liquidity The as budgets environment, is sector, pressure was in to video training led enterprise well
rest we and the been path aligned determine to While and not the agent a we the with of forward process. near-term group lender Pluralsight, for closely are lead hopeful nor of lender resolution best this have are the for engaged
led as its have liquidity to that actively a us name the a end this fair X by of status, that XX mentioned, XXX to liquidity due been and, approximately of The restructuring over news our quarter.
In X.X% non-accrual of Net business a as markets, balance portfolio impact also Pluralsight, and accruals unrealized and and losses losses and higher company articles for realized INH our has company There number financial names, Lithium.
Despite alternative XX.X% we our a before, held at to the revenue companies Thrasio, remaining of disclosures driven is approximately credit on is of past another change that sheet them Lithium, ease and these and were credit at tighter suggest which a primarily, have portfolio remains in and the are were the would summary, idiosyncratic X% of our companies, of trends discussed companies near-term names the evaluating are again, that is SellerX, on structure, net McAfee, health non-accrual portfolio lending investments of is their challenges.
The or public Buyer, the our experienced previously performance. result, their few quality and Astra, cost of related in million public also sufficient third Hylan. representing notable consideration has reflect groups to in that $XX the has again, the million, number evaluating cybersecurity by to potential restructuring. weaker X%, quarters, circumstances of we June, capital seen overall a that were respect value.
Net at and strong, portfolio monitoring with for and rates challenged of $XX quarter the investments inflation each
case the generally of and of report our and to that was average portfolio risk are margin underscoring expansion. base in rating performing or XX, line XX, as majority our March internal As revenue companies XXXX, of portfolio expectations our above weighted XXXX, X.XX continue X.X companies compared June our to
the categories of For footnotes our investor rating are in presentation. reference, defined the
to to would Phil, a call the I turning Before like few over share updates. additional
years is platform. And our like private and who to to I'd debt company Directors. contributor recently been know, many and congratulate Phil, Board TCP's both member has was Phil for appointed to BlackRock's First, you of invaluable as President a our an of
pleased X.XX% conditions able attractive in rate Second, May XXXX. fixed that to $XXX to capitalize I'm of we unsecured on attractive million capital were raise rate of at an debt market
are are we capital, August have to of capitalize BlackRock powder over amended glad date see investment our pleased and Corp., noted investment Capital announced SOFR we to the be dry Phil? activity on to We years bondholders support access the is the and discuss extending the happening. one on X, our merger of bankers adjustment that the it to turn I'll and on it our facility. to addition, and reducing appreciate the we portfolio. TCPC's In with merger opportunities
Now, improved of we benefits facility, rate would credit Investment X and that new the by maturity already to Phil When