Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Declares Quarterly Dividend of $0.42

Key Points

• Sixth Street Specialty Lending declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record on September 15. The dividend implies an annualized payout of $1.68 and a yield of approximately 9.5%.
• The dividend appears covered by earnings, with a current payout ratio of 75%; however, analysts expect next year’s payout ratio to rise to 92.8% based on projected earnings of $1.81 per share.
• In its latest quarter, the company reported EPS of $0.43, narrowly beating estimates of $0.42, while revenue of $97.84 million exceeded the $95.28 million consensus. Shares fell 1.8% to $17.68 during Wednesday trading.

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) declared a quarterly dividend on Tuesday, August 4th. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.42 per share by the financial services provider on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 9.5%. The ex-dividend date is Tuesday, September 15th.

Sixth Street Specialty Lending has decreased its dividend payment by an average of 0.0%per year over the last three years. Sixth Street Specialty Lending has a dividend payout ratio of 75.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sixth Street Specialty Lending to earn $1.81 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 92.8%.

Sixth Street Specialty Lending Stock Down 1.8%

Shares of NYSE TSLX traded down $0.33 during midday trading on Wednesday, reaching $17.68. The company's stock had a trading volume of 47,810 shares, compared to its average volume of 817,786. The stock has a 50 day simple moving average of $17.12 and a 200-day simple moving average of $18.32. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 15.37 and a beta of 0.59. Sixth Street Specialty Lending has a fifty-two week low of $16.04 and a fifty-two week high of $24.79.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.01. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. The business had revenue of $97.84 million during the quarter, compared to the consensus estimate of $95.28 million. During the same quarter last year, the firm earned $0.56 earnings per share. Equities research analysts predict that Sixth Street Specialty Lending will post 1.71 earnings per share for the current year.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending Inc NYSE: TSLX is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.

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