TPG Specialty Lending, Inc. (NYSE:TSLX) declared a special dividend on Thursday, August 3rd, Wall Street Journal reports. Stockholders of record on Thursday, August 31st will be paid a dividend of 0.09 per share by the financial services provider on Friday, September 29th. This represents a dividend yield of 7.38%. The ex-dividend date is Tuesday, August 29th. This is an increase from TPG Specialty Lending’s previous special dividend of $0.04.
TPG Specialty Lending has a payout ratio of 81.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect TPG Specialty Lending to earn $1.77 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 88.1%.
TPG Specialty Lending (TSLX) opened at 21.14 on Thursday. TPG Specialty Lending has a 52 week low of $17.00 and a 52 week high of $21.74. The company has a 50 day moving average price of $20.86 and a 200-day moving average price of $20.41.
TPG Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.11. TPG Specialty Lending had a return on equity of 12.68% and a net margin of 60.77%. The business had revenue of $58.82 million during the quarter, compared to analyst estimates of $49.41 million. During the same period in the prior year, the company earned $0.43 earnings per share. TPG Specialty Lending’s revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts forecast that TPG Specialty Lending will post $1.91 EPS for the current fiscal year.
Several equities analysts have weighed in on the company. BidaskClub raised TPG Specialty Lending from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. National Securities reissued a “neutral” rating and set a $19.00 price objective on shares of TPG Specialty Lending in a report on Monday, May 8th. Zacks Investment Research raised TPG Specialty Lending from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Wednesday, July 5th. SunTrust Banks, Inc. reissued a “buy” rating and set a $22.00 price objective (up from $21.00) on shares of TPG Specialty Lending in a report on Wednesday, August 9th. Finally, JMP Securities increased their price objective on TPG Specialty Lending from $21.50 to $22.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. TPG Specialty Lending currently has an average rating of “Buy” and an average price target of $20.80.
ILLEGAL ACTIVITY WARNING: “TPG Specialty Lending, Inc. (TSLX) to Issue Special Dividend of $0.09 on September 29th” was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this piece can be read at https://stocknewstimes.com/2017/08/24/tpg-specialty-lending-inc-tslx-to-issue-special-dividend-of-0-09-on-september-29th.html.
About TPG Specialty Lending
TPG Specialty Lending, Inc is an externally managed, closed-end, non-diversified management investment company. The Company is a specialty finance company focused on lending to middle-market companies. It seeks to generate current income primarily in the United States-domiciled middle-market companies through direct originations of senior secured loans and originations of mezzanine and unsecured loans and investments in corporate bonds and equity securities.
Receive News & Ratings for TPG Specialty Lending Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPG Specialty Lending Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
