Palmer Square Capital BDC Inc. announced its financial results for the first quarter ended March 31, 2025. The company reported Net Investment Income per share of $0.40, a decrease from $0.52 in the prior year period. Total Net Investment Income for the quarter was $12.913 million, down from $16.318 million in Q1 2024.
The Net Asset Value (NAV) per share stood at $15.85 as of March 31, 2025, a decline from $17.16 in Q1 2024. Investments on non-accrual status increased to 0.24% from 0.00% in the prior year, and the debt-to-equity ratio increased to 1.50x from 1.42x.
Total investment income was $31.21 million, a decrease from $34.78 million in Q1 2024. The company also reported a net change in unrealized losses of $15.41 million, a significant shift from $8.30 million in unrealized gains in Q1 2024. The Board of Directors declared a second quarter regular base dividend of $0.36 per share, a recalibration from the previous $0.42 per share, reflecting the impact of falling rates on income.
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