Logan Ridge Finance Corporation (NASDAQ:LRFC) Q4 2022 Earnings Conference Call March 10, 2023 10:00 AM ET
Company Participants
Ted Goldthorpe - Chief Executive Officer, President & Director
Patrick Schafer - Chief Investment Officer
Jason Roos - Chief Financial Officer
Conference Call Participants
Christopher Nolan - Ladenburg Thalmann
Steven Martin - Slater Capital
Operator
Thank you. Good morning and welcome to Logan Ridge Finance Corporation's Full Year and Fourth Quarter Ended December 31, 2022 Earnings Conference Call.
An earnings press release was distributed earlier yesterday after the close of the market. A copy of the release, along with a supplemental earnings presentation is available on the company's website at www.loganridgefinance.com in the Investor Resources section and should be reviewed in conjunction with the company's Form 10-K filed with the SEC. As a reminder, this conference call is being recorded for replay purposes.
Please note that today's conference call may contain forward-looking statements, which are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the company's filings with the SEC.
Speaking on today's call will be Ted Goldthorpe, Chief Executive Officer, President and Director of Logan Ridge Finance Corporation; Jason Roos, Chief Financial Officer; and Patrick Schafer, Chief Investment Officer.
With that, I would like to turn the call over to Ted Goldthorpe, Chief Executive Officer of Logan Ridge Finance Corporation. Please go ahead, Ted.
Ted Goldthorpe
Good morning, and welcome to our full year and fourth quarter 2022 earnings call. As I mentioned, I am joined today by our Chief Financial Officer, Jason Roos and our Chief Investment Officer, Patrick Schafer. Following my opening remarks, Patrick will provide additional detail on our investment activity to-date and Jason will walk through the financials.
The fourth quarter marks another significant milestone for Logan Ridge as the company is reinstating its quarterly dividend at $0.18 per share and marks the second consecutive quarter of positive NII since Mount Logan Management took over its investment adviser just 18 months ago.
Furthermore, the company's Board of Directors approved a $5 million share repurchase program, which will continue for one year. We believe our equity trades below fair value and the stock buyback plan is accretive to both our net asset value and net investment income per share. Although, our window is short between our year end results and our first quarter earnings period, we would look to capture that discount for our shareholders.