Welcome to our dedicated page for Palmer Square Capital Bdc news (Ticker: PSBD), a resource for investors and traders seeking the latest updates and insights on Palmer Square Capital Bdc stock.
Palmer Square Capital BDC Inc. (PSBD) is a financial services company dedicated to lending to and investing in corporate debt securities of various private U.S. companies, ranging from small enterprises to large corporations. The company's core mission is to maximize total return through a strategic mix of current income and capital appreciation.
PSBD has a diversified investment approach that involves identifying and capitalizing on opportunities within the corporate debt market. By offering tailored financial solutions to businesses, Palmer Square Capital BDC Inc. not only provides critical funding but also contributes to the growth and stability of the U.S. economic landscape.
Recent achievements include successful partnerships and funding arrangements that have bolstered their portfolio and demonstrated their capability to navigate complex financial environments. Ongoing projects focus on expanding their reach and impact across different sectors, ensuring a robust flow of capital to deserving enterprises.
With a strong financial condition backed by prudent investment strategies and a keen eye for market trends, Palmer Square Capital BDC Inc. stands out as a reliable player in the financial services arena. Their continued commitment to identifying high-yield investment opportunities and managing risk effectively makes them a preferred choice for investors seeking substantial returns.
For the latest updates on Palmer Square Capital BDC Inc., including recent news and developments, please refer to the news section below:
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Source: Palmer Square Capital Management
Palmer Square Capital BDC (NYSE: PSBD) reported its Q4 and full-year 2024 financial results, with total investment income of $34.9 million in Q4 2024, up from $29.8 million year-over-year. Net investment income was $14.8 million ($0.45 per share), compared to $15.4 million ($0.58 per share) in Q4 2023.
The company's net asset value stood at $16.50 per share as of December 31, 2024, slightly down from $16.61 in Q3. Total assets reached $1.4 billion with net assets of $537.8 million. The debt-to-equity ratio improved to 1.50x from 1.52x in Q3 2024.
PSBD declared a Q1 2025 base dividend of $0.36 per share, payable April 10, 2025, with an additional supplemental dividend expected to be announced in March. The portfolio consisted of 85.7% first lien senior secured debt, with 99% of long-term investments at floating rates and 99.92% income-producing.
Palmer Square Capital BDC (NYSE: PSBD) has announced it will release its financial results for Q4 and full year 2024 before market opens on Thursday, February 27, 2025. The company will host a conference call at 1:00 pm ET on the same day to discuss the financial performance and conduct a Q&A session.
Participants can register through Palmer Square's Investor Relations website and are advised to join 10 minutes before the call. The conference call will be accessible via US toll-free number (+1 888-596-4144) and international number (+1 646-968-2525) using passcode 1803382#. A webcast replay will be available after the event on the company's Investor Relations website.
Palmer Square Capital Management, a credit-focused asset manager with over $33 billion in assets under management, announces plans to launch three pioneering ETFs for European institutional investors in early 2025. Two ETFs will passively focus on EUR and USD denominated AAA and AA CLO debt, while the third will be an active multi-strategy ETF similar to their US offering.
The ETFs aim to provide capital preservation by targeting cycle-resilient assets with zero historical defaults. The active ETF will offer a single-manager solution for portfolio construction across corporate and structured credit. The passive products will leverage Palmer Square's expertise in senior CLO tranches, utilizing their proprietary benchmarks that are trusted by institutions globally.
Palmer Square Capital BDC (NYSE: PSBD) has announced a supplemental dividend of $0.06 per share for the fourth quarter of 2024. This supplemental payment comes in addition to the base dividend of $0.42 per share for the same quarter. Both dividends will be paid on January 13, 2025, to shareholders of record as of December 27, 2024. The supplemental dividend represents excess undistributed net investment income above the base dividend amount.
Palmer Square Capital BDC Inc. (NYSE: PSBD) has announced its plans to release financial results for the third quarter ended September 30, 2024. The release is scheduled for Tuesday, November 5, 2024, before the market opens. Following this, the company will host a conference call at 1:00 pm ET to review its financial performance and conduct a Q&A session.
Participants can register for the earnings call on the Palmer Square Investor Relations website. To ensure smooth participation, joining at least 10 minutes before the call's start is recommended. The call can be accessed via phone using the following details:
- United States: +1 (888) 596-4144
- International: +1 (646) 968-2525
- Event Plus Entry Passcode: 1803382#
A live audio webcast will also be available, and a replay will be accessible on the events and presentations section of the Palmer Square Investor Relations website shortly after the call concludes.
Palmer Square Capital BDC Inc. (NYSE: PSBD) has announced a supplemental dividend of $0.05 per share for the third quarter of 2024. This dividend will be paid to shareholders of record as of September 27, 2024, with the payment date set for October 14, 2024. The supplemental dividend is in addition to the company's base dividend of $0.42 per share for the same quarter, which will be paid on the same date to the same group of shareholders.
The supplemental dividend is being funded from the excess of Palmer Square's quarterly undistributed net investment income, above the base dividend amount. This announcement demonstrates the company's ability to generate income beyond its regular dividend commitment.
Palmer Square Capital Management, a credit-focused asset manager with over $32 billion in assets under management, has launched two new ETFs: The Palmer Square Credit Opportunities ETF (PSQO) and The Palmer Square CLO Senior Debt ETF (PSQA). PSQO is an actively managed multi-asset credit strategy, while PSQA is a passive fund focused on AAA and AA tranches of the US CLO market.
The firm, a top global CLO issuer, aims to leverage its expertise in credit strategies and CLO management to provide investors with enhanced access to credit assets. PSQO offers a comprehensive multi-asset credit allocation, while PSQA tracks a proprietary CLO Senior Debt Index (CLOSE). Both ETFs are set to begin trading on September 12, 2024, with Palmer Square ringing the opening bell at the New York Stock Exchange.
Palmer Square Capital Management has hired Courtney Cytryn as an Executive Director based in New York. Cytryn brings extensive business development experience to the firm, focusing on enhancing relationships within institutional asset management and investment banking, particularly for the company's Business Development Company (BDC) and upcoming ETF platforms. Previously, Cytryn served as Vice President at Goldman Sachs, managing business development for their multi-asset platform sales desk. She has over 10 years of experience on Wall Street, including roles at Bloomberg and Macquarie Group. The hire aims to strengthen Palmer Square's position in credit alternatives and expand its platform to deliver solutions for clients in the current financing environment.
Palmer Square Capital BDC Inc. (NYSE: PSBD) announced its second quarter 2024 financial results, reporting a total investment income of $36.5M, up from $27.4M in the prior year period. Net investment income was $15.8M or $0.48 per share, compared to $14.2M or $0.56 per share last year. The company declared a third quarter base dividend of $0.42 per share payable on October 14, 2024. However, PSBD also reported total net realized and unrealized losses of $10.4M compared to gains of $9.7M in Q2 2023.
As of June 30, 2024, PSBD's total assets stood at $1.5B and total net assets at $549M, with a debt-to-equity ratio of 1.49x. Notably, all investments were income producing with no loans on non-accrual status. Additionally, a $400.5M CLO was closed in collaboration with Bank of America in May 2024. The company's NAV per share was $16.85, down from $17.16 in Q1 2024.
Palmer Square Capital BDC (NYSE: PSBD) has announced that it will release its second quarter 2024 financial results on August 8, 2024, before the market opens. Following the release, a conference call will be held at 1:00 pm ET to review the financial performance and conduct a Q&A session.
To participate in the call, registration is required on the Palmer Square Investor Relations website. The call can be accessed via US and international phone numbers, with an entry passcode of 1803382#. A replay of the webcast will be available shortly after the event.
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