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

Key Points

• Dividend: Palmer Square Capital BDC declared a quarterly dividend of $0.36 per share payable July 13 to holders of record June 26, implying an annualized yield of about 13.3%.
• Earnings miss: The firm reported a steep quarterly loss (EPS of ($1.19) vs. analysts’ $0.40 estimate) and negative revenue figures, prompting a market reaction.
• Stock posture: Shares traded down ~3% to $10.82, with a 52-week range of $9.34–$14.98 and a market capitalization of roughly $337.6 million.

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) announced a quarterly dividend on Wednesday, May 6th. Shareholders 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 yield of 13.3%. The ex-dividend date is Friday, June 26th.

Palmer Square Capital BDC Trading Down 3.0%

NYSE PSBD traded down $0.33 during trading on Wednesday, reaching $10.82. 76,078 shares of the company's stock were exchanged, compared to its average volume of 87,617. Palmer Square Capital BDC has a fifty-two week low of $9.34 and a fifty-two week high of $14.98. The firm has a market capitalization of $337.62 million, a PE ratio of -98.37 and a beta of 0.87. The company's fifty day simple moving average is $10.57 and its 200-day simple moving average is $11.50.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.19) EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($1.59). Palmer Square Capital BDC had a positive return on equity of 10.82% and a negative net margin of 2.55%.The business had revenue of ($32.64) million for the quarter, compared to analyst estimates of $27.29 million. Equities analysts forecast that Palmer Square Capital BDC will post 1.56 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.