Good morning, ladies and gentlemen and thank you for standing by. At this time, I would like to welcome everyone to Stellus Capital Investment Corporation's Second Quarter 2020 Results. [Operator Instructions] This conference is being recorded today, Friday, July 31st, 2020.
It is now my pleasure to turn the call over to Mr. Robert Ladd, Chief Executive Officer of Stellus Capital Investment Corporation. Please go ahead, sir.
Okay. Thank you very much. Good morning, everyone and thank you for joining the call. Welcome to our conference call covering the quarter ended June 30, 2020.
Joining me this morning is Todd Huskinson, our Chief Financial Officer, who will cover important information about forward-looking statements as well as an overview of our financial information.
W. Todd Huskinson
Thank you, Rob. I'd like to remind everyone that today's call is being recorded. Please note that this call is the property of Stellus Capital Investment Corporation and that any unauthorized broadcast of this call in any form is strictly prohibited. Audio replay of the call will be available by using the telephone number and PIN provided in our press release announcing this call.
I'd also like to call your attention to the customary safe harbor disclosure in our press release, regarding forward-looking information. Today's conference call may also include forward-looking statements and projections and we ask that you refer to our most recent filing with the SEC for important factors that could cause actual results to differ materially from these projections. We will not update our forward-looking statements unless required by law. To obtain copies of our latest SEC filings, please visit our website at www.stelluscapital.com under the Public Investors link or call us at 713-292-5400.
At this time, I'd like to turn the call back over to our Chief Executive Officer, Rob Ladd.
Thank you, Todd. While the impact of the global pandemic remains, I'm glad to report that our team has remained healthy and safe and has continued to work remotely without interruption to our operations. Since the onset of the COVID-19 pandemic, we've been in regular contact with all of our portfolio companies and other sponsors to assess the current and expected impact of the pandemic on their businesses and the industries in which they operate. Overall, the portfolio is stable and all borrowers on accrual made their scheduled principal and interest payments for the second quarter.
I'll discuss the portfolio, including asset quality in more detail shortly, but first, Todd will cover our operating results for the first quarter.
W. Todd Huskinson
Thank you, Rob. On June 30th, we declared a dividend of $0.25 per share, which was covered by net investment income of $0.28 per share for the quarter. Core net investment income, which excludes the impact of excise taxes was $0.29 per share. We believe a dividend of this size will better match our income for the time being, given our rotation to more senior and unitranche loans and a falling LIBOR rate, which is likely to remain low for some time.
Effectively, all floating
Chairman and Chief Executive Officer
W. Todd Huskinson
Chief Financial Officer, Chief Compliance Officer, Treasurer and Secretary
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