Blue Owl Capital Corporation (NYSE:OBDC) Plans Dividend Increase – $0.31 Per Share

Blue Owl Capital Corporation (NYSE:OBDC) declared a quarterly dividend on Tuesday, November 3rd. Investors of record on Thursday, December 31st will be given a dividend of $0.31 per share on Friday, January 15th. This represents a $1.24 annualized dividend and a dividend yield of 11.5%. The ex-dividend date of this dividend is Thursday, December 31st. This is a 3,000.0% increase from Blue Owl Capital’s previous quarterly dividend of $0.01.

Blue Owl Capital has a dividend payout ratio of 81.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Blue Owl Capital to earn $1.28 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 96.9%.

Blue Owl Capital Stock Performance

Shares of OBDC stock opened at $10.77 on Thursday. The business’s fifty day simple moving average is $10.66 and its 200-day simple moving average is $11.14. The company has a market cap of $5.31 billion, a PE ratio of 19.24 and a beta of 0.66. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. Blue Owl Capital has a 12-month low of $9.81 and a 12-month high of $13.57.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $392.06 million during the quarter, compared to analyst estimates of $383.82 million. Blue Owl Capital had a net margin of 16.99% and a return on equity of 9.49%. Analysts expect that Blue Owl Capital will post 1.30 earnings per share for the current fiscal year.

About Blue Owl Capital

Blue Owl Capital Corporation (NYSE:OBDC) is a business development company focused on providing financing to middle-market companies. The company is externally managed by Blue Owl Credit Advisors LLC, an affiliate of Blue Owl Capital Inc, and seeks to generate income and capital appreciation through investments in privately negotiated transactions.

OBDC primarily invests in senior secured loans, including first-lien and unitranche debt, as well as second-lien loans and, to a lesser extent, equity investments and other securities.