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

Palmer Square Capital BDC Inc. (NYSE:PSBD) declared a quarterly dividend on Wednesday, May 6th. Investors of record on Friday, June 26th will be paid a dividend of 0.36 per share on Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date of this dividend is Friday, June 26th.

Palmer Square Capital BDC Price Performance

Shares of PSBD stock traded down $0.33 during trading on Wednesday, reaching $10.82. The company had a trading volume of 76,078 shares, compared to its average volume of 87,617. The firm’s 50 day simple moving average is $10.57 and its two-hundred day simple moving average is $11.50. Palmer Square Capital BDC has a one year low of $9.34 and a one year high of $14.98. The company has a market capitalization of $337.62 million, a PE ratio of -98.37 and a beta of 0.87.

Palmer Square Capital BDC (NYSE:PSBD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($1.59). Palmer Square Capital BDC had a negative net margin of 2.55% and a positive return on equity of 10.82%. The company had revenue of ($32.64) million during the quarter, compared to the consensus estimate of $27.29 million. Analysts forecast that Palmer Square Capital BDC will post 1.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC bought a new position in Palmer Square Capital BDC in the 1st quarter worth approximately $33,000. Waterfront Wealth Inc. acquired a new stake in shares of Palmer Square Capital BDC during the 1st quarter worth approximately $413,000. TrueMark Investments LLC acquired a new stake in shares of Palmer Square Capital BDC during the 1st quarter worth approximately $188,000. Nottingham Advisors Inc. acquired a new stake in shares of Palmer Square Capital BDC during the 1st quarter worth approximately $305,000. Finally, XTX Topco Ltd acquired a new stake in shares of Palmer Square Capital BDC during the 4th quarter worth approximately $351,000. 6.52% of the stock is owned by institutional investors.

About Palmer Square Capital BDC

Palmer Square Capital BDC Inc (NYSE: PSBD) is a closed-end, externally managed business development company that provides customized financing solutions to middle-market companies in the United States. The firm offers a broad range of debt and equity products—including first-lien and second-lien senior secured loans, unitranche financings, mezzanine debt and equity co-investments—to support corporate acquisitions, refinancings, growth initiatives and balance sheet restructurings.

PSBD primarily targets established privately owned and sponsored businesses across diverse industries such as healthcare, business services, industrials and consumer products.