Blue Owl Capital Corp II Declares Q3 Return of Capital: $0.62/share

What Happened
Blue Owl Capital Corporation II filed an 8-K on July 20, 2026 reporting that its Board declared a return of capital distribution of $0.62 per share for the third quarter. The declaration was made on July 16, 2026 and the distribution, which represents 7.5% of net asset value (NAV) as of December 31, 2025, will be paid on or before July 22, 2026 to shareholders of record as of July 21, 2026. The company cites disciplined portfolio management and ordinary-course portfolio repayments as drivers of the distribution.

Key Details

• Distribution amount: $0.62 per share for Q3.
• NAV impact: Equals 7.5% of NAV as of December 31, 2025.
• Timing: Declared July 16, 2026; payable on or before July 22, 2026 to record holders on July 21, 2026.
• Cumulative returns: Including this payment, the company has returned about 43% of its Dec 31, 2025 NAV (totaling $3.54 per share) over the last four months and remains on track to return 50%+ of that NAV by year-end 2026.

Why It Matters
For shareholders, this 8-K confirms a sizable cash distribution that boosts near-term liquidity and signals the board’s commitment to returning capital. The percentage-of-NAV framing (7.5% for this quarter; ~43% returned recently) gives investors a clear metric to track how much of the company’s reported NAV is being returned and the likelihood of meeting the company’s target of returning 50%+ of Dec 31, 2025 NAV by the end of 2026.