Blue Owl Capital III (OBDE) said late Monday its board declared a special cash dividend of $0.52 per share.

The dividend will be payable on or before Jan. 31 to shareholders of record as of Dec. 31. The company said it could pay the dividend earlier if its proposed merger with Blue Owl Capital (OBDC) closes before that date.

Closing of the deal is subject to approval by the companies' respective shareholders at their meetings scheduled for Jan. 8.