Blue Owl Capital Co. (NYSE:OBDC) Announces Dividend Increase – $0.06 Per Share

Blue Owl Capital Co. (NYSE:OBDC) announced a quarterly dividend on Wednesday, August 7th, NASDAQ reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.06 per share on Friday, September 13th. This represents a $0.24 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.05.

Blue Owl Capital has increased its dividend payment by an average of 2.6% annually over the last three years. Blue Owl Capital has a payout ratio of 83.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Blue Owl Capital to earn $1.79 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 82.7%.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $15.11 on Wednesday. Blue Owl Capital has a twelve month low of $12.99 and a twelve month high of $16.91. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. The company has a 50-day simple moving average of $15.22 and a two-hundred day simple moving average of $15.53. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 7.63 and a beta of 0.87.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 target price on shares of Blue Owl Capital in a report on Monday, August 12th. Keefe, Bruyette & Woods decreased their price target on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a report on Tuesday, August 20th. Raymond James lowered shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, Hovde Group lifted their price target on shares of Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.94.

About Blue Owl Capital

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.