Blackstone Secured Lending Fund (NYSE:BXSL) Announces $0.77 Quarterly Dividend

Key Points

• Blackstone Secured Lending Fund declared a $0.77 quarterly dividend, payable October 23 to shareholders of record September 30, representing an annualized dividend of approximately $3.08 and a 12.7% yield.
• The dividend may be difficult to sustain: BXSL’s payout ratio is 101.3%, while analysts expect next year’s earnings to support a projected payout ratio of 119.8%.
• BXSL shares rose 3.6% to $24.17, despite the company reporting quarterly EPS of $0.04—well below the $0.66 consensus estimate—and revenue of $233.3 million versus expectations of $326.72 million.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) declared a quarterly dividend on Thursday, August 6th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.77 per share on Friday, October 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend is Wednesday, September 30th.

Blackstone Secured Lending Fund has a payout ratio of 101.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Blackstone Secured Lending Fund to earn $2.57 per share next year, which means the company may not be able to cover its $3.08 annual dividend with an expected future payout ratio of 119.8%.

Blackstone Secured Lending Fund Trading Up 3.6%

Shares of Blackstone Secured Lending Fund stock traded up $0.83 during mid-day trading on Thursday, hitting $24.17. 2,680,882 shares of the stock were exchanged, compared to its average volume of 2,260,685. The company has a 50-day simple moving average of $23.58 and a 200 day simple moving average of $24.08. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 12.66 and a beta of 0.38. Blackstone Secured Lending Fund has a twelve month low of $22.47 and a twelve month high of $30.69.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.62). The business had revenue of $233.30 million during the quarter, compared to analyst estimates of $326.72 million. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.73%. Equities research analysts forecast that Blackstone Secured Lending Fund will post 2.75 earnings per share for the current fiscal year.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund NYSE: BXSL is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.

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