NCDL Stock — Nuveen Churchill Direct Lending Corp.

Nuveen Churchill Direct Lending Corp. (NCDL)

Updated October 16, 2026.

NCDL is a Stock. its distribution rate is 14.31%, its trailing-12-month yield is 15.16%. Dividend Vision Distribution Safety Score™ is 60/100 (Generally safe). Total return is -13.9% over the past 2.7 years, 75.4 points behind SPY at 61.5%.

Nuveen Churchill Direct Lending Corp. is a business development company that generates income by investing primarily in senior secured loans to private equity-owned U.S. middle market companies with earnings between roughly ten million and one hundred million dollars, with opportunistic exposure to junior capital investments. The company distributes quarterly and currently offers a high distribution rate. As an externally managed BDC, it aims to deliver attractive risk-adjusted returns primarily through current income rather than capital appreciation.

NCDL performance versus SPY

Price and return data through 2026-10-16.

Total return is -13.9% over the past 2.7 years, 75.4 points behind SPY at 61.5%. Over the past year its total return — price change plus distributions reinvested — is -10.9%. Its deepest 1-year drawdown was 24.0%.

NCDL key facts

Distribution Safety Score™

60 · Generally safe

Safety-Adjusted Yield

8.59%

Asset type

Stock

Asset class

Equity

Inception date

01/25/2024

Distribution rate

14.31%

Distribution frequency

Quarterly

Trailing yield

15.16%

Last close

$10.62 (as of 2026-10-16)

Market cap

$524,490,630

Average volume

152107.0

Dividend

$0.38

Ex-dividend date

09/30/2026

Payment date

10/27/2026

Beta

0.52

Payout ratio

95.3%

P/E ratio

11.3

Forward P/E

8.3893

EPS

$0.94

How Dividend Vision calculates yield and returns

Distribution rate (14.31%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (15.16%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

NCDL risks and drawbacks

Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 24.0%.

Who may consider NCDL — and who may not

It is a weaker fit for investors who need monthly cash flow (NCDL pays quarterly); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on NCDL

• All tickers starting with N

Tagged: BDC, Financials.

Frequently asked questions