We use the opportunity of PennantPark Floating Rate’s recent dividend announcement to survey the BDC’s payout history and outlook and review its market valuation.
We use the opportunity of two recent BDC announcements to analyze what might be coming in 2023 and beyond in terms of the form and level of payouts to BDC shareholders. How this plays out could impact BDC stock prices and shareholder returns for years.
We analyze the preliminary IVQ 2022 results published by PennantPark Floating Rate in the context of the BDC’s current secondary stock offering.
We re-publish an article from the BDC Credit Reporter about the sorry state of a BDC portfolio company held by half a dozen players.
The major indices all moved up on Wednesday but the BDC sector slipped for reasons unclear. Besides Ares Capital, the two PennantPark BDCs reported strong results and a dividend increase to boot.
All the markets, including the BDC sector, bounced back after two days of red ink. In the news, we discuss two BDCs dividend announcements and continue to review the merger of the two SLR BDCs.
Another up day for BDC stock prices, and for most of the indices. News-wise, a venture debt BDC recaps the quarter’s activity; an unchanged distribution is announced and yet another player returns to the unsecured debt issuance well on favorable terms.
The BDC sector was barely impacted by the “carnage” in the broader markets on Monday. On the news front, a very large BDC raised new debt on attractive terms and a smaller BDC maintained a long standing record of unchanged distributions.
BDC investors are an indecisive bunch, pushing up prices sharply after last week’s decline. We discuss the principal winners on the day. Also on the docket: a new CFO for two BDCs and the post-facto capital structure at Great Elm Capital after a Baby Bond offering.