Good morning, and welcome to the Owl Rock Capital Corporation's Second Quarter 2020 Earnings Call. I would like to remind our listeners that remarks made during the call may contain forward-looking statements. Forward-looking statements are not guarantees of future performance or results and involve a number of risks and uncertainties that are outside the company's control. Actual results may differ materially from those in forward-looking statements as a result of a number of factors, including those described from time to time in Owl Rock Capital Corporation's filings with the Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statements.
[Operator Instructions] Yesterday, the company issued its earnings press release and posted an earnings presentation for the second quarter ended June 30, 2020. This presentation should be reviewed in conjunction with the company's Form 10-Q filed on August four with the SEC. The company will refer to the earnings presentation throughout the call today, so please have that presentation available to you. As a reminder, the earnings presentation is available on the company's website.
I will now turn the call over to Craig Packer, Chief Executive Officer of Owl Rock Capital Corporation.
Craig W. Packer
Thank you, operator. Good morning, everyone, and thank you for joining us today for our second quarter earnings call. This is Craig Packer, and I am CEO of Owl Rock Capital Corporation and a co-founder of Owl Rock Capital Partners. Joining me today is Alan Kirshenbaum, our CFO and COO; and Dana Sclafani, our Head of Investor Relations. Welcome to everyone who's joining us on the call today. We hope you and your families are safe and well. I'll start today's call by briefly discussing our financial highlights for the second quarter before providing an update on what we are seeing across our portfolio in this challenging economic environment. Then after Alan covers our financial results, I will conclude by discussing our outlook and current market conditions. Getting into the second quarter financial highlights. Net investment income per share was $0.34. We ended the quarter with net asset value per share of $14.52, which is an increase of 3% versus the prior quarter, primarily reflecting a reversal of a portion of the unrealized losses we took last quarter as we have seen credit spreads tighten meaningfully from the end of the first quarter.
This NAV is in line with the estimated range that we pre-released on July 13. Looking forward, for the third quarter, our Board has declared a dividend of $0.31 per share, the same amount we have paid each quarter since our IPO and which is in addition to the previously declared special dividend of $0.08 per share. We have two additional remaining $0.08 per share special dividends, which have been previously declared for the third and fourth quarter of this year. Regarding our balance sheet, we remain very well capitalized with over $2 billion in liquidity today. That said, we continue to be cautious on capital deployment in this environment, and so we
Craig W. Packer
Chief Operating Officer And Chief Financial Officer
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