Barings BDC Q2 NII Beats at $0.28, NAV Dips to $10.94; $0.26 Dividend Declared
BBDC is trading near its 52-week low of $7.96 (6.8% above the low).
Summary
Barings BDC reported Q2 net investment income of $0.28 per share, up from $0.25 in Q1, covering the $0.26 dividend. NAV per share slipped to $10.94 from $11.02, driven by $0.28 in net unrealized depreciation, partially offset by $0.18 in net realized gains. The company also terminated the Sierra credit support agreement, freeing $67 million for redeployment into income-producing investments. The portfolio grew to $2.46 billion with a stable 9.4% yield on performing debt. The declared $0.26 quarterly dividend is consistent with prior quarters.
At the time of this announcement, BBDC was trading at $8.50 on NYSE in the Finance sector, with a market capitalization of approximately $881.6M. The 52-week trading range was $7.96 to $9.92. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.