Carlyle Secured Lending, Inc. (NASDAQ:CGBD) to Issue $0.40 Quarterly Dividend

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders of record on Monday, March 24th will be paid a dividend of 0.40 per share on Thursday, April 17th. This represents a $1.60 annualized dividend and a dividend yield of 8.95%. The ex-dividend date of this dividend is Monday, March 24th.

Carlyle Secured Lending has a payout ratio of 85.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Carlyle Secured Lending to earn $1.74 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 92.0%.

Carlyle Secured Lending Price Performance

Shares of CGBD stock traded up $0.35 during mid-day trading on Wednesday, hitting $17.87. 267,251 shares of the stock traded hands, compared to its average volume of 209,681. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.11 and a current ratio of 1.11. The company’s 50-day simple moving average is $18.06 and its 200-day simple moving average is $17.40. Carlyle Secured Lending has a twelve month low of $15.01 and a twelve month high of $18.74. The firm has a market cap of $909.69 million, a price-to-earnings ratio of 9.98 and a beta of 1.57.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CGBD shares. Wells Fargo & Company lifted their price target on Carlyle Secured Lending from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Bank of America lowered Carlyle Secured Lending from a “buy” rating to an “underperform” rating and set a $17.00 price target for the company. in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Carlyle Secured Lending from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, 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.