The record funding quarter and 15.8% yield confirm strong demand in the cannabis lending niche. The $500M shelf registration signals intent to scale — watch for future equity or debt offerings that could dilute or leverage the balance sheet. The $0.34 dividend is well-covered by $0.44 NII, providing a ~10% yield support.
Price Chart
Executive Summary
Chicago Atlantic BDC reported Q1 2026 NII of $0.44/share, beating the $0.35 consensus by 25.7%, with record gross investment income of $16.7M and portfolio growth to $364M. The company funded $93.9M in new investments, maintained a 15.8% weighted average yield, and declared a $0.34 quarterly dividend — a strong quarter for a BDC in a niche lending market.
Key Financial Metrics
Key Facts
- Net investment income of $10.0M, or $0.44/share, vs consensus $0.35 (beat by 25.7%)
- Total gross investment income of $16.7M, up 17.4% from $14.2M in Q4 2025
- Investment portfolio grew to $364.0M at fair value, up $30.7M from prior quarter
- Funded $93.9M in new investments across 7 portfolio companies, a record quarterly funding level
- Weighted average yield on portfolio maintained at 15.8%
- No loans on non-accrual status as of March 31, 2026
- NAV per share increased to $13.33 from $13.30 in Q4 2025
- Declared $0.34/share quarterly dividend, payable July 10, 2026
- Filed $500M shelf registration on May 11, 2026 for future capital flexibility
Financial Impact
NII beat consensus by $0.09/share (25.7%); portfolio grew 9.2% sequentially to $364M; dividend yield ~10.2% annualized on current price
Risk Factors
- Cannabis industry regulatory and rescheduling uncertainty could affect borrower credit quality
- The $500M shelf registration creates potential future dilution if equity is issued
- Credit spread widening caused $1.4M unrealized depreciation in the quarter
- Concentration in a single sector (cannabis) increases portfolio risk
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3294748 |
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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