Blue Owl Capital Co. (NYSE:OBDC) Raises Dividend to $0.37 Per Share

Blue Owl Capital Co. (NYSE:OBDC) declared a quarterly dividend on Wednesday, November 6th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.37 per share on Wednesday, January 15th. This represents a $1.48 dividend on an annualized basis and a yield of 9.57%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.06.

Blue Owl Capital has increased its dividend by an average of 2.6% annually over the last three years. Blue Owl Capital has a dividend payout ratio of 86.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Blue Owl Capital to earn $1.71 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 86.5%.

Blue Owl Capital Trading Up 0.3 %

OBDC stock opened at $15.47 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 9.61 and a beta of 0.85. The business has a fifty day simple moving average of $15.13 and a 200-day simple moving average of $15.11. Blue Owl Capital has a 52 week low of $13.98 and a 52 week high of $16.91.

Analyst Ratings Changes

Several equities research analysts have commented on OBDC shares. Wells Fargo & Company upped their price target on Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $14.00 price target (down from $15.50) on shares of Blue Owl Capital in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of Blue Owl Capital in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.86.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.