Quarterly ResultMay 6, 2026, 04:19 PM
Blue Owl Capital Q1 Adj. NII $0.31; NAV $14.41; Dividend Cut to $0.31
AI Summary
Blue Owl Capital Corporation announced its first quarter 2026 financial results, reporting adjusted net investment income per share of $0.31 and a net asset value per share of $14.41, a decrease from the prior quarter. The company's Board declared a Q2 2026 base dividend of $0.31 per share, adjusted to align with current earnings power, and approved a new $300 million stock repurchase program. Despite a challenging earnings environment, credit performance remained strong with a decrease in non-accrual investments, and Moody's upgraded the company's credit rating to Baa2.
Key Highlights
- Adjusted net investment income per share was $0.31, down from $0.36 in the prior quarter.
- Net asset value per share was $14.41, compared to $14.81 as of December 31, 2025.
- Board declared a Q2 2026 base dividend of $0.31 per share, adjusted from $0.37.
- A new $300 million stock repurchase program was approved, with $35 million repurchased.
- Investments on non-accrual represented 1.0% of the portfolio at fair value, down from 1.1% QoQ.
- New investment commitments totaled $676 million, while sales and repayments were $1.5 billion.
- Moody's upgraded OBDC to Baa2 in January, citing credit profile and liability management.
- Net debt-to-equity decreased to 1.13x from 1.19x in the prior quarter.