Blue Owl Capital Corporation (NYSE:OBDC) to Issue Quarterly Dividend of $0.37

Key Points

• Blue Owl Capital Corporation has declared a quarterly dividend of $0.37 per share, with an annualized yield of 10.5%, set to be paid on October 15th.
• The company has a high dividend payout ratio of 97.4%, indicating strong reliance on earnings to pay dividends, although future earnings could impact this sustainability.
• Despite reporting EPS of $0.39 for the last quarter, Blue Owl Capital missed analysts' expectations by $0.04, even as their revenue of $464.65 million exceeded estimates.

Blue Owl Capital Corporation (NYSE:OBDC - Get Free Report) declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.37 per share on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 10.4%. The ex-dividend date is Tuesday, September 30th.

Blue Owl Capital has a dividend payout ratio of 97.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities analysts expect Blue Owl Capital to earn $1.71 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 86.5%.

Blue Owl Capital Stock Up 0.6%

OBDC stock traded up $0.09 during trading on Friday, hitting $14.17. 2,548,039 shares of the company's stock traded hands, compared to its average volume of 2,707,275. The firm has a market capitalization of $7.24 billion, a P/E ratio of 9.38 and a beta of 0.74. The business has a fifty day simple moving average of $14.55 and a two-hundred day simple moving average of $14.55. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.31. Blue Owl Capital has a 1 year low of $12.11 and a 1 year high of $15.73.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $485.84 million for the quarter, compared to analyst estimates of $480.42 million. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.73%. Sell-side analysts anticipate that Blue Owl Capital will post 1.71 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on OBDC. Royal Bank Of Canada reissued an "outperform" rating and set a $16.00 price objective on shares of Blue Owl Capital in a report on Thursday, May 15th. B. Riley started coverage on shares of Blue Owl Capital in a report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price target on the stock. Finally, Wells Fargo & Company cut their price target on shares of Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $15.42.

About Blue Owl Capital

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.