Carlyle Secured Lending, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting Net Investment Income (NII) of $0.47 per common share. This NII figure represents a decrease from the prior quarter's $0.51 per share. The company's Net Asset Value (NAV) per common share also saw a modest decrease of 0.3% to $16.85 as of September 30, 2024, down from $16.86 in the previous quarter.
The Board of Directors declared a fourth-quarter 2024 dividend of $0.45 per common share, which includes a base dividend of $0.40 per share and a supplemental common dividend of $0.05 per share. This marks a reduction in the supplemental dividend from $0.07 per share in the prior quarter, reflecting adjustments to the company's payout strategy. The total fair value of the company's investments stood at $1.71 billion as of September 30, 2024.
Despite the slight decline in NII and NAV, CGBD maintained a strong credit profile with non-accrual investments at 0.6% of total investments at fair value. The company's statutory debt to equity ratio was 1.05x, and net financial leverage was 0.89x, indicating a conservative approach to leverage. The weighted average yield on income-producing investments at amortized cost was 11.9%.
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