Palmer Square Capital BDC Inc. (NYSE:PSBD) Shareholders to Receive $0.36 Quarterly Dividend

Palmer Square Capital BDC Inc. (NYSE:PSBD) declared a quarterly dividend on Wednesday, November 4th. Investors of record on Monday, December 28th will be paid a dividend of $0.36 per share on Wednesday, January 13th. This represents a $1.44 annualized dividend and a dividend yield of 14.4%. The ex-dividend date of this dividend is Monday, December 28th.

Palmer Square Capital BDC Trading Up 0.7%

Shares of PSBD opened at $9.97 on Thursday. Palmer Square Capital BDC has a twelve month low of $9.34 and a twelve month high of $12.61. The firm has a market capitalization of $305.68 million, a P/E ratio of -10.07 and a beta of 0.85. The stock’s fifty day simple moving average is $10.00 and its 200 day simple moving average is $10.50.

Palmer Square Capital BDC (NYSE:PSBD) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The company had revenue of $26.57 million during the quarter, compared to analyst estimates of $26.69 million. Palmer Square Capital BDC had a positive return on equity of 11.22% and a negative net margin of 26.73%. Sell-side analysts predict that Palmer Square Capital BDC will post 1.50 earnings per share for the current year.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. OV Management LLC purchased a new position in Palmer Square Capital BDC in the second quarter valued at about $38,867,000. Rivernorth Capital Management LLC grew its stake in Palmer Square Capital BDC by 43.8% during the 1st quarter. Rivernorth Capital Management LLC now owns 834,603 shares of the company’s stock valued at $8,154,000 after purchasing an additional 254,061 shares in the last quarter. Bank of America Corp DE increased its holdings in Palmer Square Capital BDC by 10.9% during the 1st quarter. Bank of America Corp DE now owns 576,931 shares of the company’s stock worth $5,637,000 after purchasing an additional 56,547 shares during the last quarter. Opal Wealth Advisors LLC increased its holdings in Palmer Square Capital BDC by 10.4% during the 3rd quarter. Opal Wealth Advisors LLC now owns 175,728 shares of the company’s stock worth $1,738,000 after purchasing an additional 16,488 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Palmer Square Capital BDC in the 2nd quarter valued at approximately $1,362,000. 6.52% of the stock is owned by hedge funds and other institutional investors.

Palmer Square Capital BDC Company Profile

Palmer Square Capital BDC, Inc is an externally managed business development company that seeks to provide financing to private middle-market companies. The company focuses primarily on privately originated and negotiated investments in senior secured loans and other debt instruments, with the goal of supporting businesses while generating current income for shareholders.

Palmer Square Capital BDC may invest across a range of industries and capital structures, including first-lien and unitranche loans, second-lien and subordinated debt, and select equity investments.