Carlyle Secured Lending, Inc. to Issue Quarterly Dividend of $0.32 (NASDAQ:CGBD)

Carlyle Secured Lending, Inc. (NASDAQ:CGBDGet Rating) declared a quarterly dividend on Thursday, May 5th, Wall Street Journal reports. Shareholders of record on Thursday, June 30th will be given a dividend of 0.32 per share on Friday, July 15th. This represents a $1.28 annualized dividend and a yield of 8.80%. The ex-dividend date is Wednesday, June 29th.

Carlyle Secured Lending has decreased its dividend by an average of 3.7% annually over the last three years. Carlyle Secured Lending has a payout ratio of 79.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Carlyle Secured Lending to earn $1.63 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 78.5%.

Carlyle Secured Lending stock opened at $14.55 on Friday. The business has a 50 day moving average price of $14.42 and a two-hundred day moving average price of $14.11. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 1.16. The stock has a market cap of $768.82 million, a price-to-earnings ratio of 5.53 and a beta of 1.76. Carlyle Secured Lending has a 12 month low of $12.76 and a 12 month high of $14.96.

Carlyle Secured Lending (NASDAQ:CGBDGet Rating) last released its quarterly earnings results on Tuesday, February 22nd. The company reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $36.69 million during the quarter, compared to analysts’ expectations of $36.38 million. Carlyle Secured Lending had a return on equity of 10.41% and a net margin of 87.20%. On average, analysts expect that Carlyle Secured Lending will post 1.61 earnings per share for the current fiscal year.

Separately, Zacks Investment Research upgraded Carlyle Secured Lending from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday.

In related news, CFO Thomas M. Hennigan purchased 3,260 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The shares were bought at an average price of $14.04 per share, for a total transaction of $45,770.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP grew its holdings in Carlyle Secured Lending by 106.7% in the fourth quarter. Marshall Wace LLP now owns 204,063 shares of the company’s stock worth $2,801,000 after purchasing an additional 105,354 shares during the period. Millennium Management LLC grew its holdings in Carlyle Secured Lending by 91.0% in the third quarter. Millennium Management LLC now owns 71,067 shares of the company’s stock worth $953,000 after purchasing an additional 33,864 shares during the period. BlackRock Inc. grew its holdings in Carlyle Secured Lending by 5.8% in the fourth quarter. BlackRock Inc. now owns 383,255 shares of the company’s stock worth $5,262,000 after purchasing an additional 20,990 shares during the period. Jane Street Group LLC acquired a new stake in Carlyle Secured Lending in the third quarter worth $178,000. Finally, Cetera Investment Advisers grew its holdings in Carlyle Secured Lending by 66.6% in the fourth quarter. Cetera Investment Advisers now owns 18,747 shares of the company’s stock worth $257,000 after purchasing an additional 7,492 shares during the period. 23.19% of the stock is owned by institutional investors and hedge funds.

Carlyle Secured Lending Company Profile (Get Rating)

TCG BDC, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.

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Dividend History for Carlyle Secured Lending (NASDAQ:CGBD)

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