Kayne Anderson BDC Inc
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 13, 2024
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Item 2. Results of Operations
| Net Investment Income | 1.55 | 1.62 | |
|---|---|---|---|
| Net Realized and Unrealized Gain (Loss) on Investments(2) | 0.04 | (0.19) | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1.59 | 1.43 | |
| Distributions to Common Stockholders | |||
| Distributions | (1.20) | (1.53) | |
| Net Decrease in Net Assets Resulting from Distributions | (1.20) | (1.53) | |
| Capital Share Transactions | |||
| Issuance of Common Stock, net of Underwriting and Offering Costs | (0.11) | - | |
| Repurchase of Common Stock | - | - | |
| Net Increase (Decrease) Resulting from Capital Share Transactions | (0.11) | - | |
| Net Asset Value, End of Period | $16.70 | $16.40 | |
| Per Share Market Value, End of Period | $16.21 | $ | N/A |
| Shares Outstanding, End of Period | 71,047,779 | 41,506,935 | |
| Ratio/Supplemental Data | |||
| Net assets, end of period | $1,186,205 | $680,726 | |
| Weighted-average shares outstanding | 61,321,163 | 38,461,385 | |
| Total Return based on net asset value(3) | 9.4% | 8.9% | |
| Total Return based on market value(4) | 2.4% | N/A | |
| Portfolio turnover | 12.5% | 8.5% | |
| Ratio of operating expenses to average net assets before waivers(5) | 10.1% | 11.9% | |
| Ratio of operating expenses to average net assets with waiver(5) | 8.5% | 11.9% | |
| Ratio of net investment income (loss) to average net assets(5) | 13.2% | 13.3% | |
| (1) | The per common share data was derived by using weighted average shares outstanding. |
| (2) | Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value per share for the period and may not reconcile with the aggregate gains and losses in the Consolidated Statement of Operations due to share transactions during the period. |
| (3) | Total return is calculated as the change in net asset value (“NAV”) per share during the period, plus distributions per share (if any), divided by the beginning NAV per share. The calculation also assumes reinvestment of dividends at actual prices pursuant to the Company’s dividend reinvestment plan. Total return is not annualized. |
| (4) | Total return based on market value is calculated as the change in market value per share during the respective periods, plus distributions per share, if any, divided by the beginning market value per share. The calculation also assumes reinvestment of dividends at actual prices pursuant to the Company’s dividend reinvestment plan. The beginning market value per share is based on the initial public offering price of $16.63 per share and not annualized. |
| (5) | Ratio is annualized. |
Note 11. Subsequent Events
The Company’s management has evaluated subsequent events through the date of issuance of the financial statements included herein. There have been no subsequent events that require recognition or disclosure in these financial statements except as described below.
On October 15, 2024, the Company paid a regular dividend of $0.40 per share to each common stockholder of record as of September 30, 2024. The total dividend was $28,420 and $4,521 of the total was reinvested in the Company through open market purchases of common stock pursuant to the DRIP.
On November 6, 2024, the Board of Directors of the Company declared a regular dividend to common stockholders in the amount of $0.40 per share. The regular dividend of $0.40 per share will be paid on January 15, 2025 to stockholders of record as of the close of business on December 31, 2024, payable in cash or shares of common stock of the Company pursuant to the Company’s Dividend Reinvestment Plan, as amended.
From October 1, 2024 to November 7, 2024, the Company’s agent repurchased 21,668 shares of common stock at an average price of $16.09 per share for a total amount of $349. As of November 7, 2024, $98,544 remains for repurchase under the Company’s 10b5-1 Plan.
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