Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Shareholders to Get $0.02 Quarterly Dividend

Key Points

• NCDL announced a $0.02-per-share quarterly dividend, equivalent to $0.08 annually and a 0.7% yield—a 94.4% decrease from the prior quarterly dividend. Shareholders of record December 31 are scheduled to be paid January 28.
• Third-quarter earnings were slightly below expectations: EPS was $0.38 versus a $0.39 consensus, while revenue of $43.67 million narrowly missed the $43.72 million estimate.
• The company plans to grow its joint venture to approximately $300 million over coming quarters, potentially increasing lending capacity and supporting future income growth.

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) announced a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Thursday, December 31st will be paid a dividend of $0.02 per share on Thursday, January 28th. This represents a $0.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, December 31st. This is a 94.4% decrease from Nuveen Churchill Direct Lending's previous quarterly dividend of $0.36.

Nuveen Churchill Direct Lending Price Performance

Shares of NCDL stock traded up $0.49 during trading hours on Tuesday, reaching $11.88. 500,054 shares of the company's stock were exchanged, compared to its average volume of 233,287. Nuveen Churchill Direct Lending has a 1 year low of $10.31 and a 1 year high of $15.07. The company has a market cap of $586.95 million, a P/E ratio of 12.51 and a beta of 0.55. The company's 50 day moving average is $11.52 and its two-hundred day moving average is $12.74.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $43.67 million during the quarter, compared to analysts' expectations of $43.72 million. Nuveen Churchill Direct Lending had a return on equity of 9.60% and a net margin of 24.44%. As a group, analysts predict that Nuveen Churchill Direct Lending will post 1.60 EPS for the current fiscal year.

Nuveen Churchill Direct Lending News Roundup

Here are the key news stories impacting Nuveen Churchill Direct Lending this week:

• Positive Sentiment: NCDL declared a quarterly distribution of $0.36 per share plus a $0.02 supplemental distribution, for a total of $0.38 per share. Distribution announcement
• Positive Sentiment: The company outlined plans to grow its joint venture to approximately $300 million over coming quarters, which could expand its lending capacity and provide room for future income growth. Joint venture plan
• Negative Sentiment: Third-quarter net investment income was $0.38 per share, one cent below the $0.39 consensus estimate. Revenue of $43.67 million also narrowly missed expectations of $43.72 million, a modest near-term disappointment. Third-quarter results

About Nuveen Churchill Direct Lending

Nuveen Churchill Direct Lending Corp. NYSE: NCDL is a closed-end investment company that has elected to be regulated as a business development company. The company provides financing to privately owned, primarily U.S.-based middle-market businesses.

NCDL invests mainly in senior secured loans and other debt investments, with a focus on companies that may have limited access to traditional bank financing. Its portfolio may also include unitranche loans, subordinated debt and, to a lesser extent, equity or equity-related investments.

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