Welcome to our dedicated page for Pearl Diver Credit Company news (Ticker: PDCC), a resource for investors and traders seeking the latest updates and insights on Pearl Diver Credit Company stock.
Pearl Diver Credit Company Inc. (NYSE: PDCC, PDPA) is a closed-end management investment company focused on collateralized loan obligation (CLO) investing. Its public news flow centers on its CLO equity and junior debt investment strategy, portfolio performance, and regular distributions to common and preferred shareholders.
News releases for PDCC frequently cover quarterly financial results, including net asset value per share, net investment income, investment income, expenses, and recurring cash flows from CLO investments. These updates often include commentary from management on portfolio performance, market conditions affecting CLO valuations and loan spreads, and the impact of factors such as changes in risk premiums or specific credit events in the broader loan market.
Investors following Pearl Diver Credit Company Inc. will also see regular announcements of monthly dividends on its common stock and its 8.00% Series A Term Preferred Stock due 2029. These dividend releases describe the amount per share, record and payment dates, and the mechanics of the company’s Dividend Reinvestment Plan for common stockholders, as well as the stated annual distribution rate for the preferred stock.
Additional news items include scheduling notices for earnings releases and conference calls, where the company provides dial-in and webcast details for investors and analysts. These communications highlight when management will discuss recent quarterly results and portfolio developments. By monitoring this news stream, readers can track how Pearl Diver Credit Company Inc. is executing its CLO-focused investment strategy, how its net asset value and income metrics evolve over time, and how its board is setting dividend levels for both common and preferred shares.
Pearl Diver Credit Company reported its Q1 2025 financial results, showing mixed performance. The company's net asset value per share decreased to $18.33 from $19.89, primarily due to unrealized losses in CLO equity valuations caused by market-wide risk-premium increases.
Key financial metrics include:
- Net investment income: $3.4 million ($0.50 per share)
- Investment income: $6.0 million ($0.89 per share)
- Expenses: $2.6 million ($0.38 per share)
- Net loss: $6.1 million ($0.90 per share)
The company's CLO portfolio maintained a 15.57% weighted average effective yield, with exposure to 1,200 unique corporate obligors. Leverage stood at $40.4 million, representing 23.2% of total assets. The company successfully completed its Series A Term Preferred Stock offering, raising $33.2 million through 1,480,000 shares at $25 per share.
Pearl Diver Credit Company (NYSE: PDCC, PDPA) has scheduled its first quarter 2025 earnings release for Tuesday, April 29, 2025, before market open. The company will host a conference call on the same day at 11:00 a.m. Eastern Time / 4:00pm UK time to discuss the financial results.
Participants can join the call by dialing 1-877-407-9208 (US) or 1-201-493-6784 (international) approximately 10 minutes before the start time. A live audio webcast will be available on the company's website, with a replay accessible within two hours after the call's conclusion.
Pearl Diver Credit Company (NYSE: PDCC) has announced its Board of Directors' declaration of regular monthly dividends of $0.22 per share for February, March, and April 2025. The dividends will be paid according to the following schedule:
- February: Record date Feb 14, payment date Feb 28
- March: Record date Mar 17, payment date Mar 31
- April: Record date Apr 16, payment date Apr 30
Shareholders participating in the Dividend Reinvestment Plan (DRIP) will have their distributions automatically reinvested in additional shares. When the market price equals or exceeds net asset value, new shares will be issued at the greater of the net asset value or 95% of current market price. If net asset value exceeds market price, shares will be purchased in the open market.
Pearl Diver Credit Company (NYSE: PDCC) reported its Q4 2024 financial results with a net asset value of $19.89 per share. The company achieved net investment income of $3.4 million ($0.50 per share), comprising $5.4 million in investment income and $2.0 million in expenses.
The company reported an unrealized gain on investments of $0.5 million ($0.07 per share) and a realized loss of $0.5 million ($0.07 per share). Total leverage stood at $35.6 million, representing 19.9% of total assets. The CLO portfolio showed a weighted average effective yield of 14.89%.
PDCC completed a public offering of 1,200,000 shares of 8.00% Series A Term Preferred Stock at $25 per share, with an additional 180,000 shares sold through overallotment in January 2025. The company's CLO investments provided exposure to approximately 1,200 unique corporate obligors across over 1,600 underlying loans, totaling $19.0 billion.
Pearl Diver Credit Company (NYSE: PDCC, PDPA) has announced its upcoming fourth quarter 2024 earnings release and conference call schedule. The financial results will be released before market open on Tuesday, January 28, 2025, followed by a conference call at 11:00 a.m. Eastern Time / 4:00pm UK time on the same day.
Investors and analysts can participate by dialing 1-877-407-9208 (international: 1-201-493-6784) approximately 10 minutes before the call starts. A live audio webcast will be available on the company's website, and a replay will be accessible within two hours after the call concludes.
Pearl Diver Credit Company (NYSE: PDCC) announced that underwriters have fully exercised their overallotment option to purchase an additional 180,000 Preferred Shares at $25.00 per share for its 8.00% Series A Preferred Stock Due 2029 offering. This brings the total offering to 1,380,000 shares.
The Preferred Shares began trading on the NYSE under the symbol PDPA on December 20, 2024. The company plans to use the proceeds to acquire investments aligned with their objectives and for working capital. The offering was managed by Lucid Capital Markets, B. Riley Securities, and Kingswood Capital Partners as joint book-runners, with InspereX and Janney Montgomery Scott as lead managers.
Pearl Diver Credit Company (NYSE: PDCC, PDPA) has announced its Board of Directors' declaration of monthly dividends for its 8.00% Series A Term Preferred Stock Due 2029. The dividend schedule includes:
- January 2025: $0.2389 per share (Record Date: Jan 15, Payment Date: Jan 31)
- February 2025: $0.1667 per share (Record Date: Feb 14, Payment Date: Feb 28)
- March 2025: $0.1667 per share (Record Date: Mar 17, Payment Date: Mar 31)
- April 2025: $0.1667 per share (Record Date: Apr 16, Payment Date: Apr 30)
These distributions reflect an annual distribution rate of 8.00% based on the $25 liquidation preference per share.
Pearl Diver Credit Company (NYSE: PDCC) has completed its public offering of 1,200,000 shares of 8.00% Series A Preferred Stock Due 2029 at $25.00 per share. The Preferred Shares will trade on the NYSE under the symbol 'PDPA' starting December 20, 2024. The company plans to use the proceeds to acquire investments aligned with its investment objectives and for general working capital purposes. The offering was managed by Lucid Capital Markets, B. Riley Securities, and Kingswood Capital Partners as joint book-running managers, with InspereX and Janney Montgomery Scott acting as lead managers.
Pearl Diver Credit Company (NYSE: PDCC) has announced the pricing of its public offering of 1,200,000 shares of 8.00% Series A Preferred Stock Due 2029 at $25 per share. The offering is expected to generate net proceeds of approximately $28.8 million after expenses. The Preferred Shares, rated 'BBB' by Egan-Jones Ratings Company, will be listed on the NYSE under the symbol 'PDPA' within 30 days.
The company has granted underwriters a 30-day option to purchase up to an additional 180,000 Preferred Shares. The offering is expected to close on December 18, 2024. Lucid Capital Markets, B. Riley Securities, and Kingswood Capital Partners are acting as joint book-running managers, while InspereX and Janney Montgomery Scott are serving as lead managers.
Pearl Diver Credit Company (NYSE: PDCC) has announced an underwritten public offering of its Series A Preferred Stock Due 2029. The stock, rated 'BBB' by Egan-Jones Ratings Company, will be listed on the NYSE under the ticker symbol 'PDPA' within 30 days of issuance. Lucid Capital Markets, B. Riley Securities, and Kingswood Capital Partners are serving as joint book-running managers, while InspereX and Janney Montgomery Scott are acting as lead managers.
The company plans to grant underwriters a 30-day option to purchase additional shares. Proceeds will be used to acquire investments aligned with the company's objectives and for general working capital purposes. The offering's terms will be determined through negotiations between the company and underwriters.