Key Highlights

  • BCP Investment's $0.09 monthly base distribution has an October 15, 2026 record date and is payable October 30.
  • The board declared $0.09 monthly base distributions for October, November and December, totaling $0.27 per share for the fourth quarter.
  • Second-quarter net investment income was $5.5 million, or $0.45 per share, versus $6.9 million, or $0.55, in the first quarter.
  • Net asset value was $179.5 million, or $14.49 per share, versus $193.0 million, or $15.60, at March 31.

BCP Investment Corporation's (NASDAQ:BCIC) $0.09 monthly base distribution yields 15.21% and sits beside second-quarter net investment income of $0.45 per share. The board declared it on August 6, 2026 for each of October, November and December.

Dividend Program and Shareholder Returns

BCP Investment declared a regular monthly base distribution of $0.09 per share on August 6, 2026 for each of October, November and December 2026. The October distribution is payable October 30 to stockholders of record at the close of business on October 15. The November distribution is payable December 4 to holders of record November 23, and the December distribution is payable December 30 to holders of record December 15.

On July 31, 2026 the company paid its regular monthly base distribution of $0.09 per share to stockholders of record as of July 15. The company states that its board approved regular monthly base distributions totaling $0.27 per share for the fourth quarter of 2026.

About the Company

BCP Investment Corporation is a publicly traded, externally managed closed-end investment company that has elected to be regulated as a business development company. Its common stock trades on the NASDAQ Global Select Market, and its investment adviser is Sierra Crest Investment Management LLC, an affiliate of BC Partners Advisors L.P. It originates, structures, finances and manages term loans, mezzanine investments and selected equity securities in middle market companies.

Financial Performance Behind the Payout

Second-quarter total investment income was $15.2 million versus $17.6 million in the first quarter and $12.6 million a year earlier. Core investment income, a non-GAAP measure excluding purchase discount accretion, was $12.9 million versus $14.8 million in the first quarter and $12.6 million a year earlier.

Net investment income was $5.5 million, or $0.45 per share, versus $6.9 million, or $0.55, and $4.6 million, or $0.50, a year earlier. The company stated that core net investment income covered its regular base distributions. The net decrease in net assets resulting from operations was $9.9 million, or $0.80 per share.

Net asset value was $179.5 million, or $14.49 per share, versus $193.0 million, or $15.60, at March 31 and $209.2 million, or $16.68, at December 31, 2025. The company attributed the decline primarily to unrealized mark-to-market valuation changes, with approximately 34% of the quarter's unrealized markdowns tied to software investments and approximately 47% including software-exposed names.

Credit Quality and the KeyBank Amendment

Debt investments on non-accrual were 11 across 7 portfolio companies, from 12 across 9, representing 3.1% of the portfolio at fair value and 5.7% at amortized cost, versus 2.6% and 6.2% at March 31. The weighted average annualized yield was approximately 12.0%. The investment portfolio had a fair value of $452.7 million across 107 entities, and the asset coverage ratio was 162% versus 156%.

On August 6 the company amended its KeyBank credit facility, reducing the borrowing spread from 2.80% to 2.50% during the reinvestment period, extending the reinvestment period to August 6, 2029 and the maturity to August 6, 2031, and increasing committed capacity from $75.0 million to $150.0 million. It used the borrowings to repay in full, and terminate, its JPMorgan revolving credit facility. In the second quarter it redeemed $40.0 million of its 2026 Notes.

Outlook

BCP Investment's board has approved regular monthly base distributions of $0.09 per share through December 2026. The company reports par value of outstanding borrowings of $286.1 million and gross and net leverage of 1.6x at June 30, 2026.