Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Declares -- Dividend of $0.46

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. Shareholders 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 yield of 770.0%. The ex-dividend date of this dividend 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 decline. 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 Stock Performance

NYSE:TSLX traded down $0.37 during trading hours on Friday, reaching $23.91. 583,375 shares of the stock were exchanged, compared to its average volume of 478,188. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 1.15. The firm has a 50 day simple moving average of $23.69 and a 200-day simple moving average of $22.46. Sixth Street Specialty Lending has a 52 week low of $18.58 and a 52 week high of $25.17. The stock has a market capitalization of $2.25 billion, a P/E ratio of 11.90 and a beta of 0.83.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. The business had revenue of $115.00 million for the quarter, compared to the consensus estimate of $110.42 million. Sixth Street Specialty Lending had a return on equity of 13.50% and a net margin of 39.56%. During the same quarter last year, the business posted $0.58 EPS. As a group, sell-side analysts forecast that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal 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.

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