10.3% yield, largest BDC, below book value
ARCC yields 10.3%, is the largest BDC, weathered multiple crises, and currently trades just below book value.
ARCC has consistently paid regular and special distributions since 2004, outperformed the S&P 500 on total return over the long term, and trades below its historical 1x book value. Falling interest rates pose a short-term risk, but uncertainty around rates could benefit BDCs.