Kayne Anderson BDC, Inc. Declares Quarterly Dividend of $0.40 (NYSE:KBDC)

Kayne Anderson BDC, Inc. (NYSE:KBDC) announced a quarterly dividend on Thursday, August 15th, Wall Street Journal reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.40 per share on Tuesday, October 15th. This represents a $1.60 dividend on an annualized basis and a yield of 10.00%. The ex-dividend date of this dividend is Monday, September 30th.

Kayne Anderson BDC Stock Performance

Shares of NYSE:KBDC traded up $0.01 during trading on Thursday, reaching $16.00. 31,261 shares of the stock traded hands, compared to its average volume of 64,903. Kayne Anderson BDC has a 52-week low of $15.69 and a 52-week high of $16.62. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.81.

Wall Street Analyst Weigh In

Several research firms have issued reports on KBDC. Keefe, Bruyette & Woods upgraded shares of Kayne Anderson BDC to a “hold” rating and set a $17.00 target price on the stock in a research note on Monday, June 17th. Wells Fargo & Company raised shares of Kayne Anderson BDC to a “strong-buy” rating and set a $17.00 target price for the company in a research report on Monday, June 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Kayne Anderson BDC in a research note on Thursday. Bank of America started coverage on Kayne Anderson BDC in a report on Monday, June 17th. They issued a “buy” rating and a $17.50 price objective for the company. Finally, UBS Group raised Kayne Anderson BDC to a “hold” rating and set a $17.00 target price on the stock in a research report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Kayne Anderson BDC has an average rating of “Moderate Buy” and a consensus target price of $17.10.

Insider Activity at Kayne Anderson BDC

In other news, Director Mariel A. Joliet acquired 13,000 shares of Kayne Anderson BDC stock in a transaction dated Friday, July 19th. The stock was purchased at an average cost of $16.14 per share, with a total value of $209,820.00. Following the completion of the purchase, the director now directly owns 13,000 shares in the company, valued at approximately $209,820. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

About Kayne Anderson BDC

Kayne Anderson BDC Inc is a business development company which invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. Kayne Anderson BDC Inc is based in CHICAGO.