Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Increases Dividend to $0.46 Per Share

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Friday, August 2nd, Wall Street Journal reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.46 per share by the financial services provider on Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 9.02%. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06.

Sixth Street Specialty Lending has a dividend payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Sixth Street Specialty Lending to earn $2.24 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 82.1%.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE:TSLX traded down $0.43 during midday trading on Friday, reaching $20.41. 361,224 shares of the company’s stock traded hands, compared to its average volume of 375,804. Sixth Street Specialty Lending has a one year low of $19.02 and a one year high of $22.35. The stock has a 50 day moving average of $21.48 and a 200 day moving average of $21.39. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.03 and a current ratio of 2.03. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 8.31 and a beta of 1.05.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.94%. The firm had revenue of $121.82 million during the quarter, compared to analysts’ expectations of $120.33 million. During the same period in the previous year, the company earned $0.58 earnings per share. As a group, equities research analysts anticipate that Sixth Street Specialty Lending will post 2.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their price target on shares of Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.67.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.