New Mountain Finance Corporation (NMFC)

New Mountain Finance Corporation (NMFC), a Nasdaq-listed business development company (BDC), operates as both a private equity and lending vehicle. It specializes in providing capital through direct investments and loans to middle-market companies, with a particular emphasis on those operating in stable, "defensive growth" sectors. The firm actively seeks out opportunities in buyouts and established middle-market businesses. NMFC deploys capital across various levels of a company's capital structure. This includes investing in debt instruments such as first and second lien debt, unsecured notes, and mezzanine securities. Occasionally, the firm's investments may also involve acquiring equity interests. Its investment strategy is focused exclusively on the United States. The fund targets a diverse array of industries, including but not limited to: energy, specialty chemicals and materials, trading companies and distributors, commercial printing, various support and professional services (diversified, education, environmental, facilities, office, business, federal), media, distribution and logistics, interactive home entertainment, telecommunication services, and several aspects of healthcare (services, facilities, technology). It also invests in different forms of power generation (hydroelectric, fossil fuels, nuclear) and security and alarm services. New Mountain Finance Corporation typically commits between $10 million and $50 million per transaction. Its investment sourcing involves both directly originating new deals and purchasing existing assets through open-market secondary transactions. The firm looks for companies with EBITDA ranging from $10 million to $200 million and aims for an investment hold size of up to $125 million. A key objective for the fund is to secure a majority ownership stake in its portfolio companies.

NMFC is a business development company — a listed vehicle that lends to, and sometimes takes equity in, private middle-market businesses. It elects regulated-investment-company treatment, which requires it to distribute the large majority of its taxable income each year; that requirement, not a board's generosity, is what produces the high headline yield.

The payment is a distribution rather than interest, and it can include return of capital as well as net investment income and realised gains. Most of it is taxed as ordinary income rather than as qualified dividends. The loan book is valued by the manager, not by a market, so net asset value is an estimate. Read how BDCs work.

Figures on this page are computed by Income Investing from the payment history and last price stored in our own database; the payment records come from fmp and the price from fmp, last recomputed Aug 25, 2026. They describe what has been paid, not what will be paid. Yield, payout ratio, our data sources and our methodology are explained elsewhere on the site.

The table lists the 24 most recent recorded dividends for NMFC, newest first, with ex-dates running from Mar 16, 2021 to Sep 16, 2026. The latest is $0.2500 per share in USD, ex-date Sep 16, 2026, pay date Sep 30, 2026. Measured against the nearest payment about a year earlier, 8 are higher, 8 lower and 8 unchanged; the remaining 0 have no comparable payment in the record. None is flagged as a special or one-off payment. Payment records supplied by fmp.

The chart covers 10 complete calendar years for NMFC, 2016 to 2025, per share, in USD. Each bar totals the regular dividends with an ex-dividend date in that calendar year. The year is assigned by ex-dividend date, which is not necessarily the issuer's own dividend year. Our stored payment history for NMFC begins in 2011. The total went from $1.36 in 2016 to $1.28 in 2025 — 6% lower. Within that span 2 years were higher than the year before and 4 lower. The three most recent years shown are 2023 $1.49, 2024 $1.46 and 2025 $1.28. The current year is still in progress and is left out, and special or one-off payments are excluded. This is a record of what was paid, not a projection. 1 of the years shown does not hold the 4 dividends the recorded cadence implies: 2023 (5 payments). Those years are marked on the chart and named in the table. A year with one more or one fewer payment than the cadence implies is usually a payment whose ex-dividend date moved across a year end rather than a change in the payment itself: the payment lands in the neighbouring calendar year, so one year reads high and the next reads low while the rate never moved. The change-on-the-year-before column carries the same distortion, because it compares two totals rather than two payment rates. These totals are arithmetically right for what they measure — regular dividends bucketed by ex-dividend date — but they are not the annual dividend the issuer reports for that year, and where the two disagree the issuer's own published dividend history is the authority.