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

Key Points

• Blackstone Secured Lending Fund has declared a quarterly dividend of $0.77 per share, with an ex-dividend date set for September 30th, indicating a 10.2% annualized dividend yield.
• The fund currently has a dividend payout ratio of 101.3%, meaning it relies on its balance sheet to cover dividend payments, although analysts expect a future payout ratio to drop to 93.3% based on projected earnings.
• Following its latest earnings report, the fund reported an EPS of $0.77, missing estimates, while its stock price closed at $30.09 after trading down.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Investors of record on Tuesday, September 30th will be given a dividend of 0.77 per share on Friday, October 24th. This represents a c) annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Tuesday, September 30th.

Blackstone Secured Lending Fund has a dividend payout ratio of 101.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Blackstone Secured Lending Fund to earn $3.30 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 93.3%.

Blackstone Secured Lending Fund Price Performance

BXSL traded down $0.10 on Thursday, reaching $30.09. 927,219 shares of the stock were exchanged, compared to its average volume of 1,091,652. The company's 50-day moving average price is $31.58 and its 200 day moving average price is $31.60. The firm has a market capitalization of $6.91 billion, a PE ratio of 9.49 and a beta of 0.46. Blackstone Secured Lending Fund has a fifty-two week low of $25.89 and a fifty-two week high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.04). The business had revenue of $344.80 million for the quarter, compared to analyst estimates of $353.55 million. Blackstone Secured Lending Fund had a net margin of 47.80% and a return on equity of 12.49%. As a group, equities analysts forecast that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).

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