Kayne Anderson BDC, Inc. announced its financial results for the fourth quarter ended December 31, 2024, reporting net investment income per share of $0.48, a decrease from $0.52 in the prior quarter. Total investment income for the quarter was $56.3 million, down from $57.8 million in Q3 2024, primarily due to a decrease in SOFR reference rates and a $0.7 million impact from placing Sundance on non-accrual status during the quarter.
The company's investment portfolio at fair value increased to $1,995,143 thousand. Non-accrual debt investments increased to 1.3% of fair value, involving three investments, up from 1.0% in the previous quarter. The weighted average yield on private middle market loans decreased to 11.1% from 11.9% in the prior quarter.
KBDC declared a regular quarterly dividend of $0.40 per share and a special dividend of $0.10 per share. The company's debt-to-equity ratio increased to 0.72x from 0.66x, with management expecting to achieve the low end of its 1.0x – 1.25x target range by the second or third quarter of 2025.
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