Nuveen Churchill Direct Lending Corp.
NCDLFinancial Services · Stock · quarterly payer
Forward Yield
11.59%
Annual Dividend
$1.44
Payout Ratio
147%
5-Yr Growth
—
Ex-Date
Jun 30, 2026
Frequency
Quarterly
Summary
As of July 2026, Nuveen Churchill Direct Lending Corp. (NCDL) yields 11.59% ($1.44 per share annually), with a blended fair-value estimate of $20.94 — +64% upside, so it screens as undervalued. 1 years of dividend growth.
Is NCDL a good dividend stock?
MixedNuveen Churchill Direct Lending Corp. (NCDL) pays a quarterly dividend yielding 11.59% ($1.44/yr), with 1 year of growth. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
- Never cut its dividend on record
Risks
- Elevated payout ratio (147%)
- Very high yield can signal elevated risk
Key Data
- Dividend Yield
- 11.59%
- Payout Ratio
- 147%
- Annual Dividend
- $1.44
- 5-Yr Avg Growth
- —
- Ex-Dividend Date
- Jun 30, 2026
- Years of Growth
- 1
- Frequency
- quarterly
- Beta
- —
- Market Cap
- $613.4M
- P/E Ratio
- 10.4
- 5-Yr Total Return
- —
- 52-Week Range
- $11.97 – $17.27
- Dividend Safety
- —
- Ever Cut?
- No
Frequently Asked Questions
NCDL Price — Last 12 Months
Daily close
Price Return
1 Year
-22%
3 Years
—
5 Years
—
52-Week Range
$11.97 – $17.27
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NCDL worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Nuveen Churchill Direct Lending Corp. is $20.94 per share, versus a market price of $12.74. That implies 64% of upside — a margin of safety of about 39%.
Fair Value
$20.94
Current Price
$12.74
Upside
+64%
Margin of Safety
39%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model -5.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 9.3% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, $1.19 EPS, $1.44 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jun 30, 2026 | — | $0.3800 | regular |
| Mar 31, 2026 | — | $0.4000 | regular |
| Dec 31, 2025 | — | $0.4500 | regular |
| Sep 30, 2025 | — | $0.4500 | regular |
| Jun 30, 2025 | — | $0.4500 | regular |
| Mar 31, 2025 | — | $0.4500 | regular |
| Feb 12, 2025 | — | $0.1000 | regular |
| Dec 31, 2024 | — | $0.4500 | regular |
| Nov 8, 2024 | — | $0.1000 | regular |
| Sep 30, 2024 | — | $0.4500 | regular |
| Aug 12, 2024 | — | $0.1000 | regular |
| Jun 28, 2024 | — | $0.4500 | regular |
| May 10, 2024 | — | $0.1000 | regular |
| Mar 27, 2024 | — | $0.4500 | regular |
Income Calculator
At $1.44 / yr per share
