Key Highlights

  • The forward Dividend Yield is 11.67%, with a quarterly distribution of USD 0.26 per share declared on November 5.
  • The USD 0.26 per share distribution is payable December 9 to holders of record as of December 2.
  • Net Investment income was USD 27.2 million, or USD 0.26 per share, for the third quarter, compared with USD 0.32.
  • Net asset value per share was USD 10.92 at September 30, compared with USD 11.09 at December 31, 2025.

Barings BDC, Inc. (NYSE:BBDC) carries a forward dividend yield of 11.67%. On November 5, 2026, the Board declared a quarterly distribution of USD 0.26 per share, payable on December 9, 2026 to holders of record as of December 2. Management said net investment income of USD 0.26 per share covered the third quarter dividend.

Dividend Program and Shareholder Returns

On November 5, 2026, the Board declared a quarterly distribution of USD 0.26 per share payable on December 9, 2026 to holders of record as of December 2, 2026. Regular quarterly dividends were USD 0.26 per share for the third quarter of both 2026 and 2025, and USD 0.78 for the nine months of both years.

Special dividends were USD 0.05 per share in the third quarter of 2025 and USD 0.15 for the nine months of 2025, with none in the 2026 periods. Management said net investment income of USD 0.26 per share covered the third quarter dividend of USD 0.26 per share, and year-to-date net investment income has fully covered the dividend. The trailing twelve month dividend yield is 11.67%, shown for information.

Management said net investment income was USD 27.2 million, or USD 0.26 per share, compared with USD 0.28 in the prior quarter.

About the Company

Barings BDC, Inc. is a Business Development Company listed on the New York Stock Exchange. Total Assets were USD 2,634.9 million at September 30, 2026, compared with USD 2,636.4 million at December 31, 2025. Net asset value per share was USD 10.92, compared with USD 11.09.

Investment Income and Net Investment Income Lines

Total investment income was USD 64.3 million for the third quarter, compared with USD 72.4 million a year earlier, and USD 190.1 million for the nine months, compared with USD 211.2 million. Interest and other financing fees were USD 20.3 million, compared with USD 21.5 million.

Net investment income after taxes was USD 27.2 million, compared with USD 33.6 million, and USD 82.1 million for the nine months, compared with USD 89.8 million.

Per-Share Results and Net Asset Value

Net investment income per share, basic and diluted, was USD 0.26, compared with USD 0.32, and USD 0.78 for the nine months, compared with USD 0.85. Net increase in net assets resulting from operations per share was USD 0.24, compared with USD 0.22, and USD 0.60 for the nine months, compared with USD 0.73.

Management said net asset value per share was USD 10.92 as of September 30, largely unchanged from USD 10.94 as of June 30.

Nonaccruals and the Sierra Credit Support Agreement

Management said nonaccruals ticked up modestly to 11 portfolio companies, or 1.1% of the portfolio at fair value. Excluding nonaccrual assets acquired in the Sierra transaction, which are covered by a credit support agreement, nonaccruals were 0.7% at fair value.

Management said new investments in the third quarter carried a weighted average spread of 541 basis points, in line with 540 basis points on repayments, and weighted average interest coverage was 2.6 times.

Outlook

Barings BDC's 11.67% forward dividend yield and the USD 0.26 per share quarterly distribution are the dividend facts on record. Net investment income per share, net asset value per share, nonaccrual levels, and the Sierra credit support agreement are the relevant considerations.