Putnam BDC Income ETF owns shares of publicly traded business development companies. Those BDCs lend to companies, then pay cash to their shareholders; this ETF adds a second layer between the borrowers and its own investors.
Business
BDC portfolio ETF
Listing
PBDC · NYSE Arca
Reporting period
2026-04-30
Dividend schedule
Quarterly
How the business works
BDC dividends become ETF net investment income after expenses. The BDCs' own loan earnings, credit losses and share prices sit one level below the ETF and affect NAV separately.
Extras are shown separately and are not assumed to repeat.
Reported earnings
Each measure shown separately, per share
Net investment income$3.17
May 1, 2025 to Apr 30, 2026
$0.00$3.17
Distribution yield11.10%Sourced distributions divided by dated market priceReported annual income yield11.13%Reported net investment income $3.1700 per share for 2025-05-01 to 2026-04-30, divided by approved 2026-04-30 market price $28.4900. Excludes capital gains; historical, not a current yield or forecast.Reported annual investment income$3.17Per share for 2026 FY. Excludes investment gains.Trailing 12-month distributions$3.05Recorded recurring payments per share, not a forecast
Dividend payment history
Date or month
Per share
Jul 14, 2026
$0.6955
Reported earnings and sources
Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.
Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.
NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.
How to read PBDC income
The ETF receives income from its holdings and pays its own expenses. Its income is not the same as the underlying companies' reported earnings.
Follow the income received, cash paid and portfolio value together. Look through to concentration, underlying fund costs and credit exposure.
Income and distributions
Income and cash distributions per share for the same dated periods. Shorter periods are kept separate and are not annualized. The ETF receives income from its holdings and pays its own expenses. Its income is not the same as the underlying companies' reported earnings.
Fund net investment income per common share; actual reporting period, not annualized$3.1700
Total cash distributions in the same period$3.1500
$0.00$3.20
For the year ended April 30, 2026, PBDC reported $3.17 of net investment income per common share and $3.15 of distributions. NAV moved from $31.50 to $28.45. ETF income slightly exceeded cash paid, but the NAV fall means the underlying BDC credit and share-price results matter to the full investor outcome.
Portfolio interest and dividends, realized investment results and any derivative activity contribute to distribution resources after expenses. Taxable income and cash distributions can differ from reported net investment income.
The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.
Putnam BDC Income ETF reported $3.1700 per share for 2025-05-01 to 2026-04-30, measured as Fund net investment income per common share; actual reporting period, not annualized.
Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.
Income and capital are exposed to underlying BDC credit, share-price discounts, borrowing and layered expenses.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
Payments can change and can include gains or return of capital. A high trailing yield does not establish earnings coverage or total return.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
At the next full-year report, compare ETF income and cash paid, then look through to underlying BDC earnings, credit results and NAV.
Net asset value (NAV)
NAV per share$27.64Sep 21, 2026Market price$27.60Sep 21, 2026PREMIUM / DISCOUNT TO NAV0.14% discountCalculated from the displayed same-date values.
NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.
Franklin Templeton reported ETF NAV and market price, both dated 2026-09-21. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.
At the next full-year report, compare ETF income and cash paid, then look through to underlying BDC earnings, credit results and NAV.
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U.S. federal · Tax year 2025
Dividend tax treatment
PBDC's distributions were classified as ordinary income across the two audited fiscal years that span calendar 2025.
This company information is a guide, not your personal tax statement. Use your Form 1099-DIV when you file.
Total ordinary dividends
100%
Qualified dividends
Not confirmed
Capital-gain distributions
0%
Return of capital
0%
Tax year: 2025.
Tax details and source
Total ordinary dividends (includes qualified)
100%
Section 199A portion (within ordinary dividends)
Not confirmed
Exempt-interest distributions
0%
Reporting form
Form 1099-DIV
Source date
Not stated
Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.
Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.
