Strong Dividend Coverage and Supplemental Distribution
Net investment income of $0.43 per share well covered the $0.36 per share third quarter base dividend and $0.42 per share total dividend, including a $0.06 supplemental distribution.
Improvement in Interest Coverage Ratio
The interest coverage ratio increased sequentially to 2.5x from 2.1x last quarter, indicating improved ability of companies to service their debt.
Robust Share Repurchase Plan
The board approved an additional $5 million of open market share repurchases, signaling confidence in the undervaluation of PSBD common stock.
Portfolio Yield and Diversification
As of October 31, PSBD was yielding 13.6%. The investment portfolio has a fair value of approximately $1.26 billion across 42 industries.