Quarterly ResultAug 6, 2026, 07:27 AM
Nuveen Churchill Q2 NII $0.41/Share; Declares $0.38 Dividend
AI Summary
Nuveen Churchill Direct Lending Corp. announced its second quarter 2026 financial results, reporting Net Investment Income of $0.41 per share and declaring a third-quarter distribution of $0.38 per share. The company's Net Asset Value per share decreased to $17.19, and non-accrual investments increased. Strategically, Nuveen Churchill redeemed CLO-III, formed a new joint venture, and issued additional 2030 Notes to optimize its balance sheet.
Key Highlights
- Reported Net Investment Income of $0.41 per share for Q2 2026.
- Net Asset Value (NAV) per share decreased to $17.19 from $17.50 QoQ.
- Declared a Q3 distribution of $0.38 per share ($0.36 regular, $0.02 supplemental).
- Redeemed CLO-III in full for $297.9 million on July 7, 2026.
- Formed an unconsolidated joint venture, which acquired $148.9 million of first lien loans.
- Issued an additional $100 million of existing 2030 Notes.
- Non-accrual investments increased to 1.5% of fair value (9 companies) from 0.6% (5 companies).
- Debt-to-equity ratio improved to 1.29x from 1.32x QoQ.
Price Impact
More from NCDL