Michael James O’Connor, an adviser board member at Barings BDC, Inc. (NYSE:BBDC), has sold 29,423 shares of the company’s common stock. The shares were sold at a price of $9.70 each, totaling approximately $285,408. Following this transaction, O’Connor no longer holds any shares in the company. The transaction was disclosed in a recent SEC filing.The $1.03 billion business development company currently trades near $9.76, offering investors a substantial 10.6% dividend yield. According to InvestingPro, BBDC has maintained dividend payments for 18 consecutive years and receives a “GREAT” overall financial health score. The stock has demonstrated low volatility, with a beta of 0.72, and has delivered a 23.3% total return over the past year.Want deeper insights? InvestingPro offers exclusive analysis and 8 additional ProTips for BBDC, available in the comprehensive Pro Research Report.
In other recent news, Barings BDC has reported a steady growth and strong credit outlook. The company’s net asset value (NAV) per share for the third quarter of 2024 stands at $11.32, marking a slight increase from the previous year. Barings BDC’s net investment income reached $0.29 per share, surpassing the quarterly dividend of $0.26 per share. The company also reported low non-accruals at 0.5% of fair value and a diversified portfolio with 72% in secured investments.
Barings BDC has successfully extended and amended its revolving credit facility, now sized at $825 million, with a maturity date extended to November 2029. The company declared a fourth-quarter dividend of $0.26 per share and repurchased over 500,000 shares by September 30. New commitments in the fourth quarter amounted to $117 million. Despite some technical difficulties during the earnings call, the company provided insights into its financial health and strategic focus. The company’s CEO, Eric Lloyd, expressed a positive outlook for credit performance as interest rates stabilize and inflation declines.
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