Blue Owl Capital Corporation (NYSE:OBDC) Raises Dividend to $0.31 Per Share

Blue Owl Capital Corporation (NYSE:OBDC) announced a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Thursday, December 31st will be given a dividend of $0.31 per share on Friday, January 15th. This represents a $1.24 annualized dividend and a dividend yield of 11.5%. The ex-dividend date of this dividend is Thursday, December 31st. This is a 3,000.0% increase from Blue Owl Capital’s previous quarterly dividend of $0.01.

Blue Owl Capital has a 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 decline. Analysts expect Blue Owl Capital to earn $1.28 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 96.9%.

Blue Owl Capital Stock Up 2.6%

Shares of OBDC opened at $10.77 on Thursday. The firm has a market capitalization of $5.31 billion, a P/E ratio of 19.24 and a beta of 0.66. Blue Owl Capital has a 12-month low of $9.81 and a 12-month high of $13.57. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The firm has a fifty day moving average price of $10.66 and a 200-day moving average price of $11.14.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $392.06 million for the quarter, compared to the consensus estimate of $383.82 million. Blue Owl Capital had a net margin of 16.99% and a return on equity of 9.49%. Equities research analysts expect that Blue Owl Capital will post 1.30 earnings per share for the current year.

About Blue Owl Capital

Blue Owl Capital Corporation (NYSE:OBDC) is a business development company focused on providing financing to middle-market companies. The company is externally managed by Blue Owl Credit Advisors LLC, an affiliate of Blue Owl Capital Inc, and seeks to generate income and capital appreciation through investments in privately negotiated transactions.

OBDC primarily invests in senior secured loans, including first-lien and unitranche debt, as well as second-lien loans and, to a lesser extent, equity investments and other securities.