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Dividends
12 Months Ended
Dec. 31, 2025
Dividends [Abstract]  
Dividends

11. Dividends

The Company has historically paid a dividend to stockholders on a quarterly basis. The Company has a dividend framework that provides for a quarterly base dividend and a variable supplemental dividend, subject to satisfaction of certain measurement tests and the approval of the Board.

The following table summarizes dividends declared during the years ended December 31, 2025, December 31, 2024 and December 31, 2023:

 

 

 

For the Year Ended

 

 

 

December 31, 2025

 

Date Declared

 

Dividend

 

Record Date

 

Payment Date

 

Dividend per Share

 

March 31, 2025

 

Base

 

March 31, 2025

 

May 5, 2025

 

$

0.67

 

June 30, 2025

 

Base

 

June 30, 2025

 

August 4, 2025

 

 

0.70

 

September 30, 2025

 

Base

 

September 30, 2025

 

November 10, 2025

 

 

0.70

 

December 31, 2025

 

Special

 

December 31, 2025

 

January 27, 2026

 

 

1.08

 

December 31, 2025

 

Base

 

December 31, 2025

 

January 29, 2026

 

 

0.70

 

Total Dividends Declared

 

 

 

 

 

 

 

$

3.85

 

 

 

 

For the Year Ended

 

 

 

December 31, 2024

 

Date Declared

 

Dividend

 

Record Date

 

Payment Date

 

Dividend per Share

 

March 29, 2024

 

Base

 

March 31, 2024

 

May 6, 2024

 

$

0.67

 

June 28, 2024

 

Base

 

June 30, 2024

 

August 5, 2024

 

 

0.67

 

September 30, 2024

 

Base

 

September 30, 2024

 

November 12, 2024

 

 

0.67

 

December 9, 2024

 

Special

 

December 9, 2024

 

December 18, 2024

 

 

1.86

 

December 31, 2024

 

Base

 

December 31, 2024

 

January 29, 2025

 

 

0.67

 

Total Dividends Declared

 

 

 

 

 

 

 

$

4.54

 

 

 

 

For the Year Ended

 

 

 

December 31, 2023

 

Date Declared

 

Dividend

 

Record Date

 

Payment Date

 

Dividend per Share

 

March 31, 2023

 

Base

 

March 31, 2023

 

May 9, 2023

 

$

0.40

 

June 30, 2023

 

Base

 

June 30, 2023

 

August 15, 2023

 

 

0.67

 

September 29, 2023

 

Base

 

September 30, 2023

 

November 15, 2023

 

 

0.67

 

December 29, 2023

 

Base

 

December 31, 2023

 

February 20, 2024

 

 

0.67

 

Total Dividends Declared

 

 

 

 

 

 

 

$

2.41

 

The dividends declared during the year ended December 31, 2025, December 31, 2024 and December 31, 2023 were derived from net investment income, determined on a tax basis.

With respect to distributions, the Company has adopted an “opt out” dividend reinvestment plan for shareholders. As a result, in the event of a declared cash distribution or other distribution, each Shareholder that has not “opted out” of the dividend reinvestment plan will have their dividends or distributions automatically reinvested in additional Common Shares rather than receiving cash distributions. Shareholders who receive distributions in the form of Common Shares will be subject to the same U.S. federal, state and local tax consequences as if they received cash distributions.