Pearl Diver Credit Company Inc. Declares Monthly Dividends

Rhea-AI Summary

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.

Positive

• Consistent monthly dividend payments of $0.22 per share
• DRIP program offers shareholders opportunity to reinvest at potentially discounted prices

Negative

• None.

NEW YORK and LONDON, Nov. 4, 2024 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced that its Board of Directors has declared a regular monthly dividend on shares of the Fund's common stock of $0.22 per share for November and December 2024, and January 2025.

Amount per Share	Record Dates	Payment Dates
$0.22	November 15, 2024	November 29, 2024
	December 17, 2024	December 31, 2024
	January 17, 2025	January 31, 2025

Pearl Diver Credit Company Inc. has declared a dividend of $0.22/share for November and December 2024, and January 2025.

The distribution will be automatically reinvested in additional shares of our common stock unless a stockholder opts out of the Dividend Reinvestment Plan ("DRIP") and elects to receive the distribution in cash. If the market price of the shares of common stock is equal to or exceeds net asset value at the time shares of common stock are valued for purposes of determining the number of shares of common stock equivalent to the cash dividend or capital gains distribution, participants in the DRIP are issued new shares of common stock from the Company, valued at the greater of (i) the net asset value as most recently determined or (ii) 95% of the then-current market price of the shares of common stock. The valuation date is the dividend or distribution payment date or, if that date is not a NYSE trading day, the next preceding trading day. If the net asset value of the shares of common stock at the time of valuation exceeds the market price of the shares of common stock, the DRIP Administrator will buy the shares of common stock for the DRIP in the open market.

About Pearl Diver Credit Company Inc.
Pearl Diver Credit Company Inc. (NYSE: PDCC) is an externally managed, non-diversified, closed-end management investment company. Its primary investment objective is to maximize its portfolio's total return, with a secondary objective of generating high current income. The Company seeks to achieve these objectives by investing primarily in equity and junior debt tranches of CLOs collateralized by portfolios of sub-investment grade, senior secured floating-rate debt issued by a large number of distinct US companies across several industry sectors. The Company is externally managed by Pearl Diver Capital LLP. For more information, visit www.pearldivercreditcompany.com.

About Pearl Diver Capital LLP
Founded in 2008, Pearl Diver Capital specializes in collateralized loan obligation (CLO) investing. Its data scientists and credit analysts use proprietary technology and advanced analytics to identify attractive opportunities in the CLO market. Pearl Diver's highly experienced team includes individuals from a wide range of scientific and mathematical backgrounds.

As of September 30, 2024, Pearl Diver Capital has approximately $2.8 billion in assets under management across multiple private funds backed by institutional investors ranging from public pension plans, university endowments, foundations, large family offices, corporate/ERISA pension plans and asset managers across the US, Europe and Latin America. Because it is strictly an investor in the CLO space, not an issuer, it has developed close relationships with over 80 CLO managers – and their analysts – across the CLO spectrum, enabling the firm to have rare access to critical credit information on underlying companies in CLO portfolios while avoiding conflicts of interest that might arise in performing roles that span both CLO investing and CLO management. For more information, visit www.pearldivercapital.com.

Investor Contact:
Info@Pearldivercap.com
UK: +44 (0)20 3967 8032
US: +1 617 872 0945

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SOURCE Pearl Diver Credit Company Inc.

FAQ

What is Pearl Diver Credit Company's (PDCC) dividend amount for November 2024-January 2025?

Pearl Diver Credit Company (PDCC) declared a monthly dividend of $0.22 per share for November and December 2024, and January 2025.

When are PDCC's dividend payment dates for the announced periods?

The dividend payment dates are November 29, 2024, December 31, 2024, and January 31, 2025.

How does Pearl Diver Credit Company's (PDCC) Dividend Reinvestment Plan work?

PDCC's DRIP automatically reinvests dividends in new shares at the greater of NAV or 95% of market price if market price equals or exceeds NAV. If NAV exceeds market price, shares are purchased in the open market.

What are the record dates for PDCC's announced dividends?

The record dates are November 15, 2024, December 17, 2024, and January 17, 2025.