---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-076901"
form_type: "8-K"
ticker: "PSBD"
cik: "0001794776"
company_name: "Palmer Square Capital BDC Inc."
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-15T23:43:14.571696+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# PSBD Q4 NII falls to $0.41/share from $0.45; NAV drops to $14.85; declares $0.36 base dividend

## Summary
- Total investment income $29.8M vs $34.9M YoY; NII $13.1M ($0.41/share) down from $14.8M ($0.45).
- Net realized/unrealized losses of $18.4M in Q4 vs $2.9M loss a year ago; NAV $14.85/share vs $15.39 prior quarter.
- Portfolio yield 11.30%; 99.91% of investments income-producing; non-accrual rate 0.09% of fair value.
- Q1 2026 base dividend $0.36/share payable Apr 9, record Mar 27; supplemental expected in March.
- New investments funded $91.4M in Q4; sales/repayments $148.3M; debt-to-equity 1.54x.

## SEC filing metadata
- accession: 0001193125-26-076901
- form_type: 8-K
- ticker: PSBD
- cik: 0001794776
- company_name: Palmer Square Capital BDC Inc.
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1794776/000119312526076901/0001193125-26-076901-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1794776/000119312526076901/psbd-20260226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-076901
- JSON: https://secwatch.observer/filing/0001193125-26-076901.json
- Plain text: https://secwatch.observer/filing/0001193125-26-076901.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.