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Pearl Diver Credit Company (NYSE: PDCC) has announced its Board of Directors' declaration of regular monthly dividends of $0.22 per share for February, March, and April 2025. The dividends will be paid according to the following schedule:
- February: Record date Feb 14, payment date Feb 28
- March: Record date Mar 17, payment date Mar 31
- April: Record date Apr 16, payment date Apr 30
Shareholders participating in the Dividend Reinvestment Plan (DRIP) will have their distributions automatically reinvested in additional shares. When the market price equals or exceeds net asset value, new shares will be issued at the greater of the net asset value or 95% of current market price. If net asset value exceeds market price, shares will be purchased in the open market.
Pearl Diver Credit Company (NYSE: PDCC) reported its Q4 2024 financial results with a net asset value of $19.89 per share. The company achieved net investment income of $3.4 million ($0.50 per share), comprising $5.4 million in investment income and $2.0 million in expenses.
The company reported an unrealized gain on investments of $0.5 million ($0.07 per share) and a realized loss of $0.5 million ($0.07 per share). Total leverage stood at $35.6 million, representing 19.9% of total assets. The CLO portfolio showed a weighted average effective yield of 14.89%.
PDCC completed a public offering of 1,200,000 shares of 8.00% Series A Term Preferred Stock at $25 per share, with an additional 180,000 shares sold through overallotment in January 2025. The company's CLO investments provided exposure to approximately 1,200 unique corporate obligors across over 1,600 underlying loans, totaling $19.0 billion.
Pearl Diver Credit Company (NYSE: PDCC, PDPA) has announced its upcoming fourth quarter 2024 earnings release and conference call schedule. The financial results will be released before market open on Tuesday, January 28, 2025, followed by a conference call at 11:00 a.m. Eastern Time / 4:00pm UK time on the same day.
Investors and analysts can participate by dialing 1-877-407-9208 (international: 1-201-493-6784) approximately 10 minutes before the call starts. A live audio webcast will be available on the company's website, and a replay will be accessible within two hours after the call concludes.
Pearl Diver Credit Company (NYSE: PDCC) announced that underwriters have fully exercised their overallotment option to purchase an additional 180,000 Preferred Shares at $25.00 per share for its 8.00% Series A Preferred Stock Due 2029 offering. This brings the total offering to 1,380,000 shares.
The Preferred Shares began trading on the NYSE under the symbol PDPA on December 20, 2024. The company plans to use the proceeds to acquire investments aligned with their objectives and for working capital. The offering was managed by Lucid Capital Markets, B. Riley Securities, and Kingswood Capital Partners as joint book-runners, with InspereX and Janney Montgomery Scott as lead managers.
Pearl Diver Credit Company (NYSE: PDCC, PDPA) has announced its Board of Directors' declaration of monthly dividends for its 8.00% Series A Term Preferred Stock Due 2029. The dividend schedule includes:
- January 2025: $0.2389 per share (Record Date: Jan 15, Payment Date: Jan 31)
- February 2025: $0.1667 per share (Record Date: Feb 14, Payment Date: Feb 28)
- March 2025: $0.1667 per share (Record Date: Mar 17, Payment Date: Mar 31)
- April 2025: $0.1667 per share (Record Date: Apr 16, Payment Date: Apr 30)
These distributions reflect an annual distribution rate of 8.00% based on the $25 liquidation preference per share.
Pearl Diver Credit Company (NYSE: PDCC) has completed its public offering of 1,200,000 shares of 8.00% Series A Preferred Stock Due 2029 at $25.00 per share. The Preferred Shares will trade on the NYSE under the symbol 'PDPA' starting December 20, 2024. The company plans to use the proceeds to acquire investments aligned with its investment objectives and for general working capital purposes. The offering was managed by Lucid Capital Markets, B. Riley Securities, and Kingswood Capital Partners as joint book-running managers, with InspereX and Janney Montgomery Scott acting as lead managers.
Pearl Diver Credit Company (NYSE: PDCC) has announced the pricing of its public offering of 1,200,000 shares of 8.00% Series A Preferred Stock Due 2029 at $25 per share. The offering is expected to generate net proceeds of approximately $28.8 million after expenses. The Preferred Shares, rated 'BBB' by Egan-Jones Ratings Company, will be listed on the NYSE under the symbol 'PDPA' within 30 days.
The company has granted underwriters a 30-day option to purchase up to an additional 180,000 Preferred Shares. The offering is expected to close on December 18, 2024. Lucid Capital Markets, B. Riley Securities, and Kingswood Capital Partners are acting as joint book-running managers, while InspereX and Janney Montgomery Scott are serving as lead managers.
Pearl Diver Credit Company (NYSE: PDCC) has announced an underwritten public offering of its Series A Preferred Stock Due 2029. The stock, rated 'BBB' by Egan-Jones Ratings Company, will be listed on the NYSE under the ticker symbol 'PDPA' within 30 days of issuance. Lucid Capital Markets, B. Riley Securities, and Kingswood Capital Partners are serving as joint book-running managers, while InspereX and Janney Montgomery Scott are acting as lead managers.
The company plans to grant underwriters a 30-day option to purchase additional shares. Proceeds will be used to acquire investments aligned with the company's objectives and for general working capital purposes. The offering's terms will be determined through negotiations between the company and underwriters.
Pearl Diver Credit Company (NYSE: PDCC) has announced its Board of Directors' declaration of regular monthly dividends of $0.22 per share for November and December 2024, and January 2025. The payments will be distributed on November 29, December 31, 2024, and January 31, 2025, respectively, to shareholders of record on November 15, December 17, 2024, and January 17, 2025. Shareholders participate in the Dividend Reinvestment Plan (DRIP) automatically unless they opt out. Under DRIP, new shares are issued at the greater of NAV or 95% of market price if market price equals or exceeds NAV; otherwise, shares are purchased in the open market.
Pearl Diver Credit Company (NYSE: PDCC) reported its Q3 2024 financial results, marking its first quarterly report since its IPO on July 18, 2024. The company achieved a net asset value of $20.05 per share and net income of $3.3 million ($0.48 per share). Net investment income was $2.7 million ($0.40 per share), comprising $3.9 million in investment income and $1.2 million in expenses. The company's CLO equity portfolio showed a weighted average effective yield of 16.33%. Through its CLO investments, PDCC has exposure to approximately 1,200 unique corporate obligors across $18.8 billion in underlying loans.
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