Traders should monitor the pace of capital deployment and credit quality as the company deploys significant post-year-end commitments. The sustained dividend and strong NII relative to payout suggest potential for future dividend stability or growth if investment income trends continue.
Price Chart
Executive Summary
Chicago Atlantic BDC (LIEN) reported strong Q4 and full-year 2025 financial results, with net investment income of $0.36 per share in the quarter and $1.45 per share for the year, supported by a stable portfolio and disciplined lending in the cannabis sector. The company maintained its quarterly dividend at $0.34 per share, marking the sixth consecutive quarter at this level, while reporting zero non-accruals and modest NAV growth to $13.30 per share. Substantial new funding of $93.9 million post-year-end signals continued deployment momentum.
Key Financial Metrics
Key Facts
- Net investment income of $0.36 per share in Q4 2025, up from $0.35 in Q4 2024
- Full-year 2025 net investment income of $1.45 per share, up from $0.91 in 2024
- Dividend maintained at $0.34 per share for Q1 2026, representing a 2.55% yield based on $13.30 NAV
- NAV per share increased to $13.30 as of December 31, 2025, from $13.20 a year earlier
- Zero loans on non-accrual, 100% senior secured portfolio with 15.8% weighted average yield
- Post-period funding of $93.9 million to seven borrowers, including $35.5 million to new portfolio companies
Financial Impact
Net investment income grew 59% YoY to $33.1 million in 2025, with Q4 income up 1.4% QoQ. Dividend coverage remains strong at ~94% ($0.34 dividend vs $0.36 NII per share).
Risk Factors
- Concentrated exposure to the cannabis sector, which remains federally illegal and subject to regulatory risk
- Recent increase in credit facility drawdown — from $25M to $54.5M as of March 18, 2026 — may pressure future net investment income if yields don't offset interest expense
Market Snapshot
Documents Analyzed
This report is based on 2 press releases from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3258868 |
| PRESS-RELEASE Data (Synthetic) | press-3258861 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 27d ago | EFFECT | $9.45 $9.39 | ▼ −0.63% | ▼ −1.94% | $9.10 (−3.70%) |
Aug 24, 2026 9w ago | Insider Cluster | $10.19 $10.27 | ▲ +0.79% | ▲ +1.32% | $9.10 (−10.70%) |
Aug 19, 2026 9w ago | Insider Cluster | $9.78 $10.14 | ▲ +3.68% | ▲ +2.57% | $9.10 (−6.95%) |
Aug 13, 2026 10w ago | DEFA14A | $9.44 $9.78 | ▲ +3.60% | ▲ +5.57% | $9.10 (−3.60%) |
Jun 18, 2026 18w ago | DEFA14A | $10.24 $10.40 | ▲ +1.56% | ▲ +3.23% | $9.10 (−11.13%) |
Jun 18, 2026 18w ago | 425 | $10.24 $10.40 | ▲ +1.56% | ▲ +3.23% | $9.10 (−11.13%) |
Jun 18, 2026 18w ago | 8-K | $10.24 $10.40 | ▲ +1.56% | ▲ +3.23% | $9.10 (−11.13%) |
Jun 18, 2026 18w ago | Press Release | $10.24 $10.40 | ▲ +1.56% | ▲ +3.23% | $9.10 (−11.13%) |
May 14, 2026 23w ago | 8-K | $9.83 $9.82 | ▼ −0.10% | ▲ +0.62% | $9.10 (−7.43%) |
May 14, 2026 23w ago | Press Release | $9.83 $9.82 | ▼ −0.10% | ▲ +0.62% | $9.10 (−7.43%) |
US Market Status
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