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DISTRIBUTIONS TO COMMON STOCKHOLDERS
 6 Months Ended
Mar. 31, 2023
Equity [Abstract]  
DISTRIBUTIONS TO COMMON STOCKHOLDERS DISTRIBUTIONS TO COMMON STOCKHOLDERS
To qualify to be taxed as a RIC under Subchapter M of the Code, we must generally distribute to our stockholders, for each taxable year, at least 90% of our taxable ordinary income plus the excess of our net short-term capital gains over net long-term capital losses (“Investment Company Taxable Income”). The amount to be paid out as distributions to our stockholders is determined by our Board of Directors quarterly and is based on management’s estimate of Investment Company Taxable Income. Based on that estimate, our Board of Directors declares three monthly distributions to common stockholders each quarter.
The federal income tax characteristics of all distributions will be reported to stockholders on the IRS Form 1099 after the end of each calendar year. Estimates of tax characterization made on a quarterly basis may not be representative of the actual tax characterization of cash distributions for the full year. Estimates made on a quarterly basis are updated as of each interim reporting date.
For the calendar year ended December 31, 2022, 93.2% of distributions to common stockholders were deemed to be paid from ordinary income and 6.8% of distributions were deemed to be return of capital for 1099 stockholder reporting
purposes. For the calendar year ended December 31, 2021, 100.0% of distributions to common stockholders were deemed to be paid from ordinary income for 1099 stockholder reporting purposes.
We paid the following monthly distributions to common stockholders for the six months ended March 31, 2023 and 2022:
Fiscal YearDeclaration DateRecord DatePayment DateDistribution per Common Share
2023October 11, 2022October 21, 2022October 31, 2022$0.07 
October 11, 2022November 18, 2022November 30, 20220.07 
October 11, 2022December 20, 2022December 30, 20220.07 
January 10, 2023January 20, 2023January 31, 20230.075 
January 10, 2023February 17, 2023February 28, 20230.075 
January 10, 2023March 17, 2023March 31, 20230.075 
Six Months Ended March 31, 2023:
$0.435 
Fiscal YearDeclaration DateRecord DatePayment DateDistribution per Common Share
2022October 12, 2021October 22, 2021October 29, 2021$0.065 
October 12, 2021November 19, 2021November 30, 20210.065 
October 12, 2021December 23, 2021December 31, 20210.065 
January 11, 2022January 21, 2022January 31, 20220.065 
January 11, 2022February 18, 2022February 28, 20220.065 
January 11, 2022March 23, 2022March 31, 20220.065 
Six Months Ended March 31, 2022:
$0.39 
Aggregate distributions declared and paid to our common stockholders were approximately $15.7 million and $13.4 million for the six months ended March 31, 2023 and 2022, respectively, and were declared based on estimates of Investment Company Taxable Income for the respective fiscal years. For the fiscal year ended September 30, 2022, distributions declared and paid exceeded taxable income available for common distributions resulting in a partial return of capital of approximately $1.4 million.
For the six months ended March 31, 2023 and the fiscal year ended September 30, 2022, we recorded the following adjustments for book-tax differences to reflect tax character. Results of operations, total net assets, and cash flows were not affected by these adjustments.
Six Months Ended
March 31, 2023
Year Ended
September 30, 2022
Undistributed net investment income
$271 $(5,606)
Accumulated net realized losses(271)7,013 
Capital in excess of par value— (1,407)