Chicago Atlantic BDC Reports Q2 NII of $0.34/Share, NAV $13.26; Declares $0.34 Dividend
LIEN is trading near its 52-week low of $8.92 (4.4% above the low) on light trading volume (0.4× avg).
Summary
Chicago Atlantic BDC reported Q2 net investment income of $0.34 per share, down from $0.44 in Q1, while maintaining a 16% portfolio yield and declaring its eighth straight $0.34 dividend. The REFI merger remains on track for Q4 2026.
Key Events · Earnings and Guidance · LIEN
-
Q2 Net Investment Income Declines
NII fell to $7.7 million ($0.34/share) from $10.0 million ($0.44/share) in Q1, as repayments of $26.7 million outpaced new fundings of $2.7 million.
-
NAV Per Share Slips to $13.26
Net asset value per share declined from $13.33 to $13.26, reflecting a $1.6 million unrealized loss on investments.
-
Dividend Maintained at $0.34
Board declared Q3 dividend of $0.34 per share payable October 9, 2026 — the eighth consecutive quarter at that rate, representing a 13.9% annualized yield on the current stock price.
-
Portfolio Yield Holds at 16.0%
Weighted average yield on debt investments remained strong at 16.0%, with zero loans on non-accrual status and 100% senior secured exposure.
Analysis · LIEN · Unknown
Chicago Atlantic BDC's Q2 results show net investment income of $7.7 million ($0.34 per share), down from $10.0 million ($0.44) in Q1, driven by lower investment income as repayments outpaced new fundings. NAV per share slipped to $13.26 from $13.33. The company maintained a 16.0% portfolio yield with zero non-accruals and declared its eighth consecutive $0.34 quarterly dividend. The pending REFI merger remains on track for Q4 2026, with the combined company expected to hold a $771 million portfolio. Trading near its 52-week low, the stock offers a 13.9% dividend yield, but the earnings decline and merger execution risk are the key near-term considerations.
At the time of this filing, LIEN was trading at $9.31 on NASDAQ in the Unknown sector, with a market capitalization of approximately $222M. The 52-week trading range was $8.92 to $11.44. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.