Barings Bdc, Inc. (NYSE:BBDC) to Issue Quarterly Dividend of $0.26

Barings Bdc, Inc. (NYSE:BBDC) announced a quarterly dividend on Thursday, November 5th. Investors of record on Wednesday, December 2nd will be paid a dividend of $0.26 per share on Wednesday, December 9th. This represents a $1.04 dividend on an annualized basis and a yield of 12.0%. The ex-dividend date of this dividend is Wednesday, December 2nd.

Barings Bdc has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Barings Bdc has a dividend payout ratio of 105.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Barings Bdc to earn $1.02 per share next year, which means the company may not be able to cover its $1.04 annual dividend with an expected future payout ratio of 102.0%.

Barings Bdc Price Performance

Shares of NYSE BBDC opened at $8.66 on Friday. Barings Bdc has a 52 week low of $7.96 and a 52 week high of $9.53. The business’s 50 day moving average price is $8.70 and its 200 day moving average price is $8.67. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.24. The firm has a market cap of $906.68 million, a P/E ratio of 10.38 and a beta of 0.65.

Barings Bdc (NYSE:BBDC) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Barings Bdc had a return on equity of 10.07% and a net margin of 32.73%. The business had revenue of $64.29 million for the quarter, compared to analysts’ expectations of $63.54 million. During the same period in the prior year, the business posted $0.22 earnings per share. On average, sell-side analysts expect that Barings Bdc will post 1.04 earnings per share for the current year.

Analysts Set New Price Targets

BBDC has been the topic of a number of research reports. Weiss Ratings lowered shares of Barings Bdc from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 16th. Raymond James Financial set a $9.00 target price on shares of Barings Bdc in a research report on Thursday, October 22nd. Wells Fargo & Company upped their price target on shares of Barings Bdc from $9.50 to $10.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Finally, Zacks Research downgraded Barings Bdc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.50.

About Barings Bdc

Barings BDC, Inc (NYSE:BBDC) is a business development company that provides financing to privately owned, middle-market businesses. The company seeks to support companies across a range of industries by investing in their debt and equity securities.

Barings BDC primarily invests in senior secured loans, including first-lien and second-lien debt, as well as subordinated debt and selected equity investments. Its portfolio companies are generally based in the United States and may use the financing for acquisitions, recapitalizations, refinancing, growth initiatives, and other corporate purposes.

The company was formerly known as Triangle Capital Corporation and adopted the Barings BDC name following a change in its investment management arrangements.