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Small-cap stocks have finally started to recover, potentially benefiting from lower borrowing costs. Nuveen Churchill Direct Lending (NCDL) is a business development company with a 13.0% dividend yield, primarily driven by a high regular dividend. Its portfolio consists of financing 213 companies across 26 industries, with most loans being floating-rate in nature. Lower interest rates may lead to increased loan demand, offsetting lower loan income and benefiting NCDL.

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