Kayne Anderson BDC, Inc. (NYSE:KBDC – Get Free Report) shares saw unusually-strong trading volume on Monday following a dividend announcement from the company. Approximately 180,452 shares traded hands during mid-day trading, an increase of 299% from the previous session’s volume of 45,219 shares.The stock last traded at $16.54 and had previously closed at $16.63.
The newly announced dividend which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 9.72%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10.
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada boosted their price target on shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.30.
Kayne Anderson BDC Stock Down 1.0 %
The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.53 and a current ratio of 1.36. The firm’s fifty day moving average price is $16.21.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Kayne Anderson BDC stock. BNP Paribas Financial Markets bought a new position in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,722 shares of the company’s stock, valued at approximately $44,000.
Kayne Anderson BDC Company Profile
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.
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