---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-211975"
form_type: "8-K"
ticker: "PSBD"
cik: "0001794776"
company_name: "Palmer Square Capital BDC Inc."
filed_at: "2026-05-07T23:59:59+00:00"
generated_at: "2026-05-14T21:57:37.327471+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Palmer Square BDC Q1 2026 NII $0.35/share; NAV per share falls to $13.30 from $14.85

## Summary
- Total investment income $26.2M, down from $31.2M in Q1 2025; NII $11.0M ($0.35/share) vs $12.9M ($0.40).
- Net realized and unrealized losses of $48.3M; NAV per share dropped to $13.30 at March 31, 2026.
- Declared Q2 2026 base dividend of $0.36/share, payable July 13, 2026; supplemental dividend expected in June.
- Debt-to-equity increased to 1.70x from 1.54x; portfolio yield improved to 11.73% from 10.37% a year ago.
- Only $431K of PIK income (1.64% of total investment income); one non-accrual investment (<0.01% at fair value).

## SEC filing metadata
- accession: 0001193125-26-211975
- form_type: 8-K
- ticker: PSBD
- cik: 0001794776
- company_name: Palmer Square Capital BDC Inc.
- filed_at: 2026-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1794776/000119312526211975/0001193125-26-211975-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1794776/000119312526211975/psbd-20260507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-211975
- JSON: https://secwatch.observer/filing/0001193125-26-211975.json
- Plain text: https://secwatch.observer/filing/0001193125-26-211975.txt

## Source-grounded claims
- claim_id: 03415dab1eb0bbb3078589ae22f327e375db1d20
  claim: Palmer Square Capital BDC Inc. reported the first quarter ended March 31, 2026 results: revenue Total investment income of $26.2 million, net income Net investment income of $11.0 million or $0.35 per share, EPS $0.35 per share.
  evidence_excerpt: business development company, today announced its financial results for the first quarter ended March 31, 2026. Financial and Operating Highlights • Total investment income of $26.2 million for the first quarter of 2026, compared to $31.2 million for the prior year period • Net investment income of $11.0 million or $0.35 per share for the first quarter of 2026,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1794776/000119312526211975/0001193125-26-211975-index.htm

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