quarter and year call. and earnings fiscal you Thanks for Chris, joining fourth thank XXXX everyone to us our for
pleased we this our execute performance to the look be morning updated you as are of our giving capital. strategy to stewards you portfolio and continue an our with of to forward your as on investment diligently company and We
Throughout Investor in which in our found to can our be our earnings the various slides will remarks, page at www.capitalsouthwest.com. presentation, on website prepared Relations refer we
our You our last on press quarterly website. release will evening issued earnings find also
presentation, to the key we Now the of fiscal begin of slide summary turning year. performance with a six XXXX will for earnings the highlights
our the to increasing fiscal per share the while $X.XX billion, $X.X over from $X.XX prior year-over-year investment fair year prior per year. $XXX XX% XX% year, to During we in from by grew at our income portfolio in value share million the by total pretax
the per in fiscal year, to $X.XX XX% share paid regular year. share representing compared the our prior the of paid regular for increased dividends We dividends an increase $X.XX to per
the regular track our covering We for with NII continued of over XXX% coverage dividends in year. our pre-tax record
December December quarter, our in March to quarters. of growth, program $X.XX the each dividend dividend and XXXX per paying addition in supplemental began regular we a the share In
share per June a declared quarter. again has supplemental $X.XX XXXX the dividend board Our for
markets the sheet strengthened addition, capital our activities. year of variety In balance during we through a
a total the X well equity we as an year. to of our year, fiscal compared debt-to-equity common to leverage end gross of X.XX as of First, $XXX the as prior end regulatory offering underwritten of Program, our Equity X.XX our public debt-to-equity of stock, in as to million to reducing of the through raised fiscal the proceeds ATM X
credit we million Second, received additional facility to credit commitments $XX million. $XXX our total facility, on in revolving bringing commitments
we for in SBA Third, which $XX currently drawing we year, received million upon. additional approval are during the debentures
XXXX, flexibility, later this provide Service. balance on of based Investors BaaX Stable leverage in remarks. Outlook a Moody's prepared Michael our performance, March our sheet a for and further detail Investment will in Rating Finally, we Grade received with on
highlights quarter. key presentation, seven Turning performance to earnings summarized have of slide to we the March the specific
quarter we growth ago net generated the During generated income X% generated share XX% an the share the of and quarter. per in in growth over a investment $X.XX March prior quarter, $X.XX pre-tax the per the represented year share, $X.XX over which per
per XX% share share dividend dividend. quarter total per supplemental paid includes the The dividends regular during which significantly our per $X.XX $X.XX share, well per share, earned the as $X.XX out our of
per end undistributed income our the of taxable balance $X.XX the of quarter As estimated was share.
and its for As regular dividend the in regular $X.XX earnings are increased previously $X.XX XXXX power of a given leverage. Board the further as well of to announced, to our as operating increases our growth portfolio These another increase improvements declared fundamental our our share dividends quarter. performance, in per has result June share our per
level dividend norms. even endeavoring return if to base our can increasing the set more to continued a historical at rates market to have regular maintained We in that always regular be be prudent dividends,
floating in for again rate June of declared our In addition per an environment, board generated per directors base share declared rate elevated due dividend to to quarter $X.XX the debt $X.XX continued supplemental the share. our has being bringing portfolio a quarter, by excess June of for dividends earnings total
at and discretion our While meaningful generated averages dividend quarterly portfolio. excess are it the of we Directors, supplemental and in are Board earnings of historical base Capital while dividends equity our distribute declarations that co-investment UTI will our is our realized expectation dividends to gains future, from by of foreseeable the future above continue and for Southwest intent have rates
continues favorable lender The like quarter, quarter the be continued deal a market Capital in solid, during be than activity to focused lower environment for the a Southwest. one During rather rental refinancing. primarily to the acquisitions lien on first
to continue XX company portfolio a to new than XXX levels year that company loans on were on loans portfolio were average full ago turn higher points We and loans see generally new basis leverage pricing lower EBITDA. a around spreads by that of
as our value equity to first enterprise acquisition, the At pay the companies. from for divided new loan quality remain these full year the one private on same down being as willing time, lien calculated ago value of firms an was loans also by for meaningfully levels paid a multiples
add-on from the was in portfolio companies by million. during new commitments $XX.X to This prepayment by $XX.X driven debt during $XX.X five quarter one the to offset new portfolio companies proceeds $XX.X million in commitments totaling of million totaling quarter. nine million growth commitments, Portfolio consisting was and existing
the proceeds a the XXX% prevailing $XX.XX or On the average front capitalization of share per million weighted total quarter, NAV price of at in share. a of per equity during gross raised $XX.X we
end quarter. commitments as Our liquidity the $XXX million approximately remains robust undrawn with the and cash of capital of
We asset the to as uncertainty of that a maintain issuances, it think investment we growth a we have BDC our conservative portion is equity in accretive the given mindset critical economy. meaningful current remained with leverage funding diligent in
potential capitalization. end manage with leverage it cycle As BDC's economic new starts underwriting Managing the how we have the This of NAV. stock many allows recession, to to we opportunistically manage meaningfully our our throughout also lower BDC also be of particularly trade a target opportunities, to we risk-adjusted can returns with also It times, order mentality. said invest our to full companies, portfolio our but to applies attractive. below in support range when positions us repurchasing a us while our
With pleased very in we leverage further reduce of X.XX debt-to-equity prior are quarter. balance we with the to in as regulatory strength down the to context, debt-to-equity toX our sheet this X.XX X from
We also at mature of the liquidity we and to bonds, in with continue liabilities balance which maintained XXXX. covenant-free sheet half of our earliest rate, significant our unsecured, position almost fixed operate
strategy our of XXXX. coverage, we experienced creation our our value and time and XX in illustrate On to consistent slides dividend during continued dividend since eight back the growth, January track of solid launch that nine, of regular credit strong we COVID producing increased regular pandemic. record in paid tumultuous quarterly all cut have have Since never dividend the even shareholders we times environment the and dividend the
shareholders. $X.XX same generate strength to have consistent shareholder our from track gains dividends critically or track of to well and special solid as of markets, We record capital believe building dividends, long access share to investment totaling per capitalization decisions demonstrated absolute all the period, we the this portfolio, earnings our Additionally, management the we important XX excess our with alignment strong value. performance and growing realized our record, Continuing sustained is as our our as of term supplemental company's well investment the the believe strategies, our paid with has the interests over generated from is our portfolio. as of
we Turning lay back it since core XX, January to XXXX. which slide out on to strategy, our tenant launched the changed hasn’t
loans, the lower of as in investing portfolio and We lending in the capital portfolio of equity XX% for private provide which purchase support backed of potential majority middle equity approximately senior as needed. well is strategy secured guidance core our lien – backed and for Our with company. vast backed firms, new credit leadership companies, if private market, by the important junior first
the invest basis In the with firm. on we opportunity minority have middle lower equity equity a a [inaudible] to often the private in market
As cost, with of million representing unrealized fair portfolio consisted was investments $X.XX equity a of embedded $XX.X which a XX million, quarter, in XXX% share. our of co-investment of of end our of per total the value $XXX.X depreciation the
Our to market the share of end total attractive of growing over equity participation NAV the these in XX% represented supplemental the portfolio fair the will come portfolio, per continues of growth businesses, shareholders of our which middle dividend lower our approximately of potential which quarter, form provide upside and value as in time.
confidence Our with deals. and also Virtually by participations like-minded club lower of middle core in post-closing together private have have their complemented loan firms. multiple relationships by in larger market across is backed working deals are management equity well by strategy gained whom led these companies we from all lenders
million loan senior of as portfolio of $X XX, to to our billion on-balance of end year. slide I-XX year-over-year funds, prior excluding our credit on the the illustrated as grew end As compared $XXX of over quarter, the XX% sheet the
XXX% company lien first current our securities. portfolio senior the of credit on-balance quarter, senior portfolio quarter, first the sheet were of securities. XX% the end And was the For of of as lien debt new total originations
the portfolio, in we past the we have sizes have improved loan granularity credit the portfolio. as Over the eight years, grown significantly of hold
falling percent from a X.X%. average portfolio less total of With size loan X% hold the to the as than
companies, in debt $XX.X to quarter. detail companies Slide this committed senior the four lien $X.X invested in quarter in portfolio a of Capital five capital the committed the and committed we including secured million we total equity. portfolio million in during $XX.X million On to of new XX, invested included which first
Deal lien at $XX have equity commitments quarter March million portfolio $XX companies. million to the new senior in the secured over million since activity nine end. healthy pace, also $X.X and quarter first continues in and existing committed we in current in originated a We debt
XXXX, in equity Turning proceeds, XX, of the realized portfolio credit loan in the the approximately generating a approximately representing in proceeds These portfolio based we strategy, we cumulative the weighted our XX%. IRR XX.X%. originated $XX.X the IRR average a sponsor. July had XX company million launch one million have of have by to weighted private sale quarter, on average exits, $XXX during generated exits slide generated of prepaid of that Since
slow continues be spread Based loans to coming solid the expect dynamics, growth given market. the in quarters. new activity we widening these refinancing net in surprisingly, the on on Not portfolio
our equity market the sourcing is the as consistent activity from by in pleased team middle opportunities. with a provider, which broad our are country, has deal as that and established relationships the strong position array lower origination quality our and across the We evidenced premier debt capital of team market
and underwriting this company of portfolio market, industries uncertainty. certain economic challenging is terms do today's are given our In well, we performing while underwriting more find
important a soon occurring recession financial after has always run every component of loan. an However, for closing stress an loan the to case model our extreme simulating downside new been our underwriting loan, of
particular have we what experienced respect, underwriting in although that our rates much done modeling the base attempts a level environment tie current on have to in hasn't from higher to volatility leverage a the industry and include we than are So to potential throughout today performance economic the the we the of This in business past, changed models historically. cycle. analysis willing put company
the be performance as volatility industry, demonstrated different. performance across recessionary by recessions very past Peak-to-trough can in
it level levels assign of is critical volatility. potential performance appropriate given to leverage a for are So that
underwriting loan Specifically, fundamental which remains within the our value recession. in and portfolio company's our to stress our well loan that flow model portfolio is cover case the throughout the simulated financial that company's the demonstrates cash the model, enterprise require we interest able standards,
our of key we the sheet end On some senior stats unbalanced loan I-XX our slide for fund. excluding the detail as portfolio quarter, again XX, of
was of X.X% at to subordinated to X.X% As end of secured, fair co-investment. first lien the senior the debt, equity second value total weighted the and quarter, senior portfolio at lien XX.X% the to secured, XX.X% to
portfolio debt Xx. and of weighted and hold for average through average equity credit our a leverage portfolio million respectively. million of loans yield average were XX.X% The $X.X had sizes $XX.X The weighted co-investments and security
XX the for our rating the migration quarter. illustrates portfolio within Slide
lowest rating on As of an X a upon rating. origination the a being assigned the scale, rating loans all being investment and X highest X-point are reminder, initially X with
one in As fair of portfolio of categories, at XX.X% the quarter, two value X. end the a was a top of X or of rated the the
with our Again, senior slide secured portfolio debt in this mix on industries, As our security investment only across senior X% XX, total asset lien the shareholder I-XX portfolio to heavily lien towards strong remains an weighted illustrated well senior debt. loan for now, capital. provides with first fund, on slide including second the of portfolio which continues our be secured diversified
to to hand about will I more specifics the review quarter. performance now the financial call Michael, for over
