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

Blackstone Secured Lending Fund (NYSE:BXSL) announced a quarterly dividend on Wednesday, February 25th. Shareholders of record on Tuesday, March 31st will be paid a dividend of 0.77 per share on Friday, April 24th. This represents a c) annualized dividend and a yield of 12.5%. The ex-dividend date of this dividend is Tuesday, March 31st.

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. 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 Stock Up 3.3%

Shares of NYSE:BXSL traded up $0.80 during midday trading on Wednesday, reaching $24.64. The company’s stock had a trading volume of 3,273,888 shares, compared to its average volume of 2,356,830. The stock has a fifty day moving average of $25.89 and a 200 day moving average of $27.02. Blackstone Secured Lending Fund has a twelve month low of $23.31 and a twelve month high of $34.17. The firm has a market capitalization of $5.70 billion, a PE ratio of 9.26 and a beta of 0.41.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.79 by $0.01. The company had revenue of $196.54 million for the quarter, compared to analyst estimates of $359.59 million. Blackstone Secured Lending Fund had a net margin of 42.38% and a return on equity of 11.85%. Sell-side analysts anticipate that Blackstone Secured Lending Fund will post 3.54 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.