Kayne Anderson BDC, Inc. provided an update on its equity buyback plan, which was initially announced on May 21, 2024. The company reported that from May 21, 2024, to June 30, 2024, no shares were repurchased under the plan. This indicates that the company did not execute any buybacks during this specific period.
The update confirms the existence of the buyback plan, which allows for repurchases below Net Asset Value, signaling a commitment to shareholder value. However, the lack of activity in the reported timeframe means no immediate impact on outstanding shares or capital structure from repurchases.
The company's $100 million share repurchase plan remains active, with the executive summary indicating an extension through May 2026. This provides KBDC with the flexibility to opportunistically repurchase shares in the future, subject to market conditions and regulatory considerations.
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