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. Shareholders of record on Monday, March 24th will be given a dividend of 0.40 per share on Thursday, April 17th. This represents a $1.60 dividend on an annualized basis and a yield of 8.95%. The ex-dividend date is Monday, March 24th.

Carlyle Secured Lending has a dividend payout ratio of 85.1% indicating that 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 Stock Up 2.0 %

NASDAQ CGBD traded up $0.35 on Wednesday, hitting $17.87. 267,251 shares of the stock were exchanged, compared to its average volume of 209,681. The company has a 50-day moving average price of $18.06 and a 200-day moving average price of $17.40. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.99. The company has a market cap of $909.69 million, a PE ratio of 9.98 and a beta of 1.57. Carlyle Secured Lending has a fifty-two week low of $15.01 and a fifty-two week high of $18.74.

Analyst Upgrades and Downgrades

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

About Carlyle Secured Lending

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.