Palmer Square Capital BDC Expands Share Buyback Program, Extends Duration
PSBD sits 16% above its 52-week low of $9.34.
Summary
Palmer Square Capital BDC announced an increase and extension of its existing stock repurchase program. This move follows a period of declining Net Asset Value (NAV) per share and increased net losses reported in Q1 2026, though the company's NAV showed a slight recovery as of April 30, 2026. Expanding the buyback program signals management's confidence in the company's valuation, particularly as the stock trades below its reported NAV, and aims to return capital to shareholders.
At the time of this announcement, PSBD was trading at $10.82 on NYSE in the Finance sector, with a market capitalization of approximately $336.7M. The 52-week trading range was $9.34 to $14.98. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.