Blue Owl Capital Corporation to Issue Quarterly Dividend of $0.31 (NYSE:OBDC)

Key Points

• Blue Owl Capital declared a quarterly dividend of $0.31 per share, payable October 15 to shareholders of record September 30. The dividend implies an annualized yield of approximately 11.3%.
• The dividend is currently covered by earnings, with an 81.6% payout ratio, but analysts expect coverage to tighten to about 95.4% next year based on projected earnings of $1.30 per share.
• Blue Owl reported quarterly earnings of $0.34 per share, beating estimates of $0.32, while revenue of $396 million also exceeded expectations. The stock opened at $10.95 and is near its 12-month low of $10.52.

Blue Owl Capital Corporation (NYSE:OBDC - Get Free Report) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.31 per share on Thursday, October 15th. This represents a c) annualized dividend and a yield of 11.3%. The ex-dividend date is Wednesday, September 30th.

Blue Owl Capital has a dividend payout ratio of 81.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect Blue Owl Capital to earn $1.30 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 95.4%.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $10.95 on Thursday. The business has a 50 day simple moving average of $10.96 and a two-hundred day simple moving average of $11.27. Blue Owl Capital has a 12 month low of $10.52 and a 12 month high of $14.53. The stock has a market capitalization of $5.43 billion, a P/E ratio of 15.64 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.24 and a quick ratio of 1.24.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $396.00 million for the quarter, compared to the consensus estimate of $394.23 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%.During the same quarter last year, the business posted $0.40 earnings per share. As a group, analysts predict that Blue Owl Capital will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Blue Owl Capital

Several hedge funds and other institutional investors have recently made changes to their positions in OBDC. IFP Advisors Inc boosted its stake in Blue Owl Capital by 79.6% during the third quarter. IFP Advisors Inc now owns 2,096 shares of the company's stock worth $27,000 after buying an additional 929 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Blue Owl Capital by 166.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company's stock worth $27,000 after acquiring an additional 1,320 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Blue Owl Capital during the 3rd quarter worth $30,000. FNY Investment Advisers LLC raised its holdings in shares of Blue Owl Capital by 440.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 2,700 shares of the company's stock worth $29,000 after acquiring an additional 2,200 shares during the period. Finally, AG Campbell Advisory LLC acquired a new position in shares of Blue Owl Capital during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 42.83% of the company's stock.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation NYSE: OBDC is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company's investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.

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