TPG Specialty Lending Inc (NYSE:TSLX) Increases Dividend to $0.39 Per Share

TPG Specialty Lending Inc (NYSE:TSLX) declared a quarterly dividend on Wednesday, July 31st, NASDAQ reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.39 per share by the financial services provider on Tuesday, October 15th. This represents a $1.56 annualized dividend and a dividend yield of 7.44%. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from TPG Specialty Lending’s previous quarterly dividend of $0.04.

TPG Specialty Lending has a payout ratio of 77.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect TPG Specialty Lending to earn $2.00 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 78.0%.

Shares of NYSE:TSLX remained flat at $$20.97 during midday trading on Tuesday. The company had a trading volume of 4,898 shares, compared to its average volume of 223,338. TPG Specialty Lending has a twelve month low of $17.75 and a twelve month high of $21.24. The firm has a market capitalization of $1.38 billion, a PE ratio of 9.32, a PEG ratio of 11.26 and a beta of 0.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.69. The company’s fifty day moving average is $20.36 and its 200 day moving average is $20.04.

TPG Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $57.40 million. TPG Specialty Lending had a return on equity of 12.45% and a net margin of 54.68%. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, analysts expect that TPG Specialty Lending will post 1.85 earnings per share for the current year.

In other news, Director Hurley Doddy bought 2,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $20.25 per share, with a total value of $50,625.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.40% of the stock is owned by insiders.

A number of brokerages have recently issued reports on TSLX. Wells Fargo & Co upgraded TPG Specialty Lending from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $20.50 to $21.00 in a research note on Thursday, August 1st. Zacks Investment Research downgraded TPG Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $22.25.

About TPG Specialty Lending

TPG Specialty Lending, Inc is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), mezzanine debt, 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.

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Dividend History for TPG Specialty Lending (NYSE:TSLX)

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