NAV Slides to $13.21 as Investment Income Drops 14% YoY
PSBD is trading near its 52-week low of $9.34 (6.1% above the low) on light trading volume (0.4× avg).
Summary
Palmer Square Capital BDC reported Q2 2026 net investment income of $0.39 per share, down from $0.43 a year ago, on total investment income of $27.3 million, a 14% decline. NAV per share slipped to $13.21 from $13.30 last quarter, extending an 11% year-to-date decline. The company declared a $0.36 base dividend for Q3, with a supplemental dividend expected to be announced in September. CEO Christopher Long highlighted the extended share repurchase program and liability structure improvements aimed at boosting earnings power from Q4 onward. The results follow a series of insider purchases and a $300 million CLO refinancing completed in July, but the persistent NAV erosion and income decline underscore ongoing portfolio stress.
At the time of this announcement, PSBD was trading at $9.91 on NYSE in the Finance sector, with a market capitalization of approximately $308.4M. The 52-week trading range was $9.34 to $14.43. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.