Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Raises Dividend to $0.46 Per Share

Key Points

• Sixth Street Specialty Lending, Inc. has declared a dividend of $0.46 per share, representing a remarkable 666.7% increase from its previous dividend of $0.06.
• Shareholders of record by September 15th will receive the dividend on September 30th, with an ex-dividend date also set for September 15th.
• Despite a current payout ratio of 82.1%, future earnings projections suggest the company can maintain its dividend payments, with an expected minimum earnings of $2.16 per share next fiscal year.

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) declared a -- dividend on Friday, August 1st, Wall Street Journal reports. Investors of record on Monday, September 15th will be given a dividend of 0.46 per share by the financial services provider on Tuesday, September 30th. This represents a dividend yield of 770.0%. The ex-dividend date is Monday, September 15th. This is a 666.7% increase from Sixth Street Specialty Lending's previous -- dividend of $0.06.

Sixth Street Specialty Lending has a payout ratio of 82.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect Sixth Street Specialty Lending to earn $2.16 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 85.2%.

Sixth Street Specialty Lending Trading Down 0.5%

TSLX stock traded down $0.12 during midday trading on Tuesday, reaching $23.68. The company's stock had a trading volume of 148,548 shares, compared to its average volume of 475,834. Sixth Street Specialty Lending has a 52 week low of $18.58 and a 52 week high of $25.17. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07. The stock has a market cap of $2.23 billion, a PE ratio of 11.79 and a beta of 0.84. The business's 50-day simple moving average is $23.72 and its 200-day simple moving average is $22.50.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. The company had revenue of $115.00 million during the quarter, compared to analysts' expectations of $110.42 million. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. During the same period last year, the business earned $0.58 EPS. As a group, sell-side analysts expect that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc NYSE: TSLX is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.