Blue Owl Capital (NYSE:OBDC) reported second-quarter 2026 adjusted net investment income of $0.34 per share, up from $0.31 in the prior quarter, as a large investment realization and higher specialty-finance dividend income lifted results.
Net asset value per share declined to $14.26 from $14.41 in the first quarter, primarily due to a markdown on one portfolio company
Chief Executive Officer Craig Packer said adjusted net investment income translated to a 9.6% annualized return on equity, more than 100 basis points above the prior quarter. The company said earnings comfortably covered its base dividend and supported a supplemental distribution. The board declared a third-quarter base dividend of $0.31 per share, payable Oct. 15 to shareholders of record Sept. 30.
It also declared a $0.02 per-share supplemental dividend, payable Sept. 15 to shareholders of record Aug. 31. Large Mavis Realization Boosts Income Management attributed much of the quarter-over-quarter increase in net investment income to the repayment of its preferred-equity investment in Mavis Tire. Blue Owl collected approximately $274 million in cash from the repayment, including $66 million of accrued payment-in-kind, or PIK, interest.