Kayne Anderson BDC, Inc. (NYSE:KBDC) Declares Quarterly Dividend of $0.40

Key Points

• Kayne Anderson BDC, Inc. declared a quarterly dividend of $0.40 per share, with the payment scheduled for October 16th to shareholders of record by September 30th, representing an annual yield of 10.6%.
• The company reported $0.40 EPS for the last quarter, slightly missing estimates, but revenues exceeded expectations at $57.30 million compared to a forecast of $49.37 million.
• Insider trading activity saw Director Albert Rabil sell 43,020 shares recently, contributing to a total of 387,485 shares sold by insiders over the past three months.

Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) declared a quarterly dividend on Monday, August 11th, RTT News reports. Shareholders of record on Tuesday, September 30th will be given a dividend of 0.40 per share on Thursday, October 16th. This represents a c) annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend is Tuesday, September 30th.

Kayne Anderson BDC Price Performance

KBDC traded down $0.04 during midday trading on Thursday, hitting $15.35. 149,488 shares of the company traded hands, compared to its average volume of 131,311. The company has a current ratio of 1.45, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 9.08 and a beta of 0.29. Kayne Anderson BDC has a 52-week low of $13.93 and a 52-week high of $17.99. The business has a 50 day simple moving average of $15.69 and a two-hundred day simple moving average of $16.12.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). The company had revenue of $57.30 million for the quarter, compared to analysts' expectations of $49.37 million. Kayne Anderson BDC had a net margin of 52.99% and a return on equity of 10.90%. On average, equities analysts forecast that Kayne Anderson BDC will post 2.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Kayne Anderson BDC

In other news, Director Albert Rabil sold 314,465 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $15.90, for a total value of $4,999,993.50. Following the transaction, the director directly owned 151,686 shares of the company's stock, valued at approximately $2,411,807.40. This trade represents a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 387,485 shares of company stock valued at $6,151,830 over the last quarter. Company insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Kayne Anderson BDC

Several hedge funds and other institutional investors have recently bought and sold shares of KBDC. Cerity Partners LLC acquired a new stake in Kayne Anderson BDC during the fourth quarter worth about $170,000. Invesco Ltd. acquired a new stake in Kayne Anderson BDC during the fourth quarter worth about $712,000. Renaissance Technologies LLC increased its position in Kayne Anderson BDC by 584.4% during the fourth quarter. Renaissance Technologies LLC now owns 145,100 shares of the company's stock worth $2,400,000 after purchasing an additional 123,900 shares during the last quarter. Marshall Wace LLP increased its position in Kayne Anderson BDC by 31.7% during the fourth quarter. Marshall Wace LLP now owns 18,117 shares of the company's stock worth $300,000 after purchasing an additional 4,359 shares during the last quarter. Finally, BIP Wealth LLC acquired a new stake in Kayne Anderson BDC during the fourth quarter worth about $168,000.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC Inc is a business development company which invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. Kayne Anderson BDC Inc is based in CHICAGO.