Kayne Anderson Business Development Company (NYSE:KBDC) Quarterly Financial Results
Kayne Anderson Business Development Company (NYSE:KBDC) released its latest quarterly financial results, revealing earnings of $0.40 per share, which fell short of analysts' expectations of $0.41 by a cent. Despite this, the company posted an 11.36% return on equity and a net profit margin of nearly 57%. Shareholders received a dividend of $0.10 per share, translating to an extraordinary yield of 1,210%, with a payout ratio close to 89%. Notably, several institutional investors increased their holdings in KBDC, including Acadian Asset Management, which expanded its position by over 340%.
Trading Performance and Financial Ratios
On the trading front, KBDC's stock declined by $0.14, closing at $15.16, with a trading volume slightly below its average. The company's liquidity ratios stood at 1.25, and its debt-to-equity ratio was 0.85. Over the past year, the stock hit a low of $13.93 and a high of $17.99, with a market capitalization of approximately $1.07 billion. The stock's price-to-earnings ratio is 8.42, and its beta is 0.29, indicating relatively low volatility.