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

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

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 research 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

NYSE BXSL traded up $0.80 during trading hours on Wednesday, hitting $24.64. 3,273,888 shares of the company’s stock traded hands, compared to its average volume of 2,356,830. The company has a market capitalization of $5.70 billion, a PE ratio of 9.26 and a beta of 0.41. Blackstone Secured Lending Fund has a 52-week low of $23.31 and a 52-week high of $34.17. The firm’s 50-day moving average is $25.89 and its 200-day moving average is $27.02.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. The business had revenue of $196.54 million for the quarter, compared to analysts’ expectations of $359.59 million. Blackstone Secured Lending Fund had a return on equity of 11.85% and a net margin of 42.38%. Equities research analysts predict 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.