Pearl Diver Credit Company Declares Monthly Dividends
With great anticipation, Pearl Diver Credit Company Inc. (NYSE: PDCC) has made an announcement that its Board of Directors has declared a monthly dividend of $0.22 per share for upcoming months, specifically February, March, April, and May.
Dividend Payment Details
The dividend distribution detail includes important dates for record keeping and payment schedules. According to the recent release, dividends are set to be paid as follows:
Common Stock Dividends
The $0.22 monthly dividend applies to the common shares, with the following important dates established:
- Dividend Amount: $0.22
- Record Dates:
- February 13,
- March 17,
- April 16,
- May 15,
- Payment Dates:
- February 27,
- March 31,
- April 30,
- May 29
This reinvestment strategy allows shareholders to automatically reinvest distributions into additional shares unless they opt-out through the Dividend Reinvestment Plan (DRIP). Participants can acquire shares either at net asset value or at 95% of the current market price, depending on the valuation of shares on the payment date.
Preferred Stock Dividends
In addition to the common stock dividends, the Board has also approved a monthly dividend on its 8.00% Series A Term Preferred Stock Due 2029, allowing shareholders to benefit as well:
Preferred Stock Payment Details
The declared payment for preferred shares is set at $0.1667, also with similar record and payment date structures:
- Dividend Amount: $0.1667
- Record Dates:
- February 13,
- March 17,
- April 16,
- May 15,
- Payment Dates:
- February 27,
- March 31,
- April 30,
- May 29
The annual distribution rate of 8.00% corresponds to the $25 liquidation preference per share, ensuring both common and preferred shareholders receive valued returns on their investments.
About Pearl Diver Credit Company Inc.
Pearl Diver Credit Company Inc. is not just another firm in finance; it operates as an externally managed, non-diversified, closed-end management investment company with the goal of maximizing total return and generating high current income. Investment efforts focus on equity and junior debt tranches of CLOs based on a broad portfolio of senior secured floating-rate debt from various US companies spanning diverse industry sectors. Externally managed by Pearl Diver Capital LLP, the firm aims to meet and exceed the expectations of its investors.
About Pearl Diver Capital LLP
Founded in 2008, Pearl Diver Capital specializes in investing within the structured financial markets, primarily through collateralized loan obligations (CLO). Their team utilizes advanced analytics and proprietary technologies to discover lucrative investment opportunities, bolstered by robust relationships with over 80 CLO managers. This unique position affords them critical insights into the CLO market, while prudently avoiding any potential conflicts of interest. As of recent figures, Pearl Diver Capital manages approximately $2.9 billion across multiple private funds, appealing to a wide array of institutional investors.
Investor Contact
For any inquiries, investors are encouraged to make contact through the following means:
Phone (UK): +44 (0)20 3967 8032
Phone (US): +1 617 872 0945
Frequently Asked Questions
What is the monthly dividend amount declared by Pearl Diver?
The monthly dividend amount is $0.22 per share for common stock.
When will the dividends be paid?
Payment dates for dividends are February 27, March 31, April 30, and May 29.
Is there a reinvestment option for shareholders?
Yes, shareholders can opt into the Dividend Reinvestment Plan (DRIP) to reinvest dividends into additional shares.
What is the dividend for preferred stock?
The monthly dividend for the Series A Term Preferred Stock is $0.1667.
Who manages Pearl Diver Credit Company?
Pearl Diver Credit Company is managed externally by Pearl Diver Capital LLP.
