Carlyle Secured Lending, Inc. Announces Financial Results For Fourth Quarter and Full Year Ended December 31, 2024, Declares First Quarter 2025 Dividends of $0.45 Per Common Share Inclusive of the Supplemental Dividend
Carlyle Secured Lending (NASDAQ: CGBD) reported strong Q4 and full-year 2024 financial results. The company achieved net investment income of $0.47 per share in Q4 and $2.00 per share for full-year 2024. The total fair value of investments increased to $1.8 billion as of December 31, 2024.
Net asset value (NAV) per common share slightly decreased by 0.3% to $16.80 from $16.85 in Q4. The Board declared a Q1 2025 dividend of $0.45 per share, consisting of a $0.40 base quarterly dividend plus a $0.05 supplemental dividend, payable on April 17, 2025.
The company's performance remained strong despite tightening market spreads and continued repricing activity. Since its inception in May 2013, CGBD has invested approximately $8.7 billion in aggregate principal amount of debt and equity investments.
Carlyle Secured Lending (NASDAQ: CGBD) ha riportato risultati finanziari forti per il quarto trimestre e per l'intero anno 2024. L'azienda ha raggiunto un reddito netto da investimenti di $0.47 per azione nel quarto trimestre e $2.00 per azione per l'intero anno 2024. Il valore totale equo degli investimenti è aumentato a $1.8 miliardi al 31 dicembre 2024.
Il valore netto degli attivi (NAV) per azione comune è leggermente diminuito dello 0.3% a $16.80 rispetto a $16.85 nel quarto trimestre. Il Consiglio ha dichiarato un dividendo per il primo trimestre del 2025 di $0.45 per azione, composto da un dividendo base trimestrale di $0.40 più un dividendo supplementare di $0.05, pagabile il 17 aprile 2025.
Le prestazioni dell'azienda sono rimaste forti nonostante l'inasprimento degli spread di mercato e l'attività di riprezzamento continua. Dalla sua nascita nel maggio 2013, CGBD ha investito circa $8.7 miliardi in totale di debito e investimenti azionari.
Carlyle Secured Lending (NASDAQ: CGBD) reportó resultados financieros sólidos para el cuarto trimestre y el año completo 2024. La compañía logró un ingreso neto por inversiones de $0.47 por acción en el cuarto trimestre y $2.00 por acción para el año completo 2024. El valor total justo de las inversiones aumentó a $1.8 mil millones al 31 de diciembre de 2024.
El valor neto de los activos (NAV) por acción común disminuyó ligeramente en un 0.3% a $16.80 desde $16.85 en el cuarto trimestre. La Junta declaró un dividendo para el primer trimestre de 2025 de $0.45 por acción, que consiste en un dividendo base trimestral de $0.40 más un dividendo suplementario de $0.05, pagadero el 17 de abril de 2025.
El desempeño de la compañía se mantuvo sólido a pesar del endurecimiento de los márgenes del mercado y la continua actividad de reajuste de precios. Desde su creación en mayo de 2013, CGBD ha invertido aproximadamente $8.7 mil millones en total de inversiones de deuda y capital.
Carlyle Secured Lending (NASDAQ: CGBD)는 2024년 4분기 및 연간 재무 결과가 강력하다고 보고했습니다. 이 회사는 4분기에 주당 $0.47의 순 투자 수익을 달성했으며, 2024년 전체로는 주당 $2.00를 기록했습니다. 2024년 12월 31일 기준으로 총 공정 가치가 $1.8억 달러로 증가했습니다.
보통주당 순자산가치(NAV)는 4분기 $16.85에서 $16.80로 0.3% 소폭 감소했습니다. 이사회는 2025년 1분기 배당금을 주당 $0.45로 선언했으며, 이는 $0.40의 기본 분기 배당금과 $0.05의 추가 배당금으로 구성되며, 2025년 4월 17일에 지급될 예정입니다.
회사의 성과는 시장 스프레드의 축소와 지속적인 가격 재조정 활동에도 불구하고 여전히 강력했습니다. 2013년 5월 설립 이후 CGBD는 약 $8.7억 달러의 부채 및 자본 투자 총액을 투자했습니다.
Carlyle Secured Lending (NASDAQ: CGBD) a annoncé de solides résultats financiers pour le quatrième trimestre et l'année complète 2024. La société a réalisé un revenu net d'investissement de $0.47 par action au quatrième trimestre et $2.00 par action pour l'année complète 2024. La valeur totale juste des investissements a augmenté à $1.8 milliard au 31 décembre 2024.
La valeur nette des actifs (NAV) par action ordinaire a légèrement diminué de 0.3% à $16.80 contre $16.85 au quatrième trimestre. Le Conseil a déclaré un dividende pour le premier trimestre 2025 de $0.45 par action, composé d'un dividende trimestriel de base de $0.40 plus un dividende supplémentaire de $0.05, payable le 17 avril 2025.
La performance de l'entreprise est restée solide malgré le resserrement des spreads de marché et l'activité continue de réévaluation des prix. Depuis sa création en mai 2013, CGBD a investi environ $8.7 milliards en montant principal total de dettes et d'investissements en capital.
Carlyle Secured Lending (NASDAQ: CGBD) hat starke Finanzzahlen für das vierte Quartal und das Gesamtjahr 2024 veröffentlicht. Das Unternehmen erzielte einen Nettoinvestitionsertrag von $0.47 pro Aktie im vierten Quartal und $2.00 pro Aktie für das Gesamtjahr 2024. Der gesamte faire Wert der Investitionen stieg zum 31. Dezember 2024 auf $1.8 Milliarden.
Der Nettovermögenswert (NAV) pro Stammaktie sank leicht um 0.3% auf $16.80, verglichen mit $16.85 im vierten Quartal. Der Vorstand erklärte eine Dividende für das erste Quartal 2025 von $0.45 pro Aktie, bestehend aus einer Basisdividende von $0.40 und einer zusätzlichen Dividende von $0.05, die am 17. April 2025 zahlbar ist.
Die Leistung des Unternehmens blieb stark, trotz der Verschärfung der Marktspreads und der fortgesetzten Preisanpassungsaktivitäten. Seit seiner Gründung im Mai 2013 hat CGBD insgesamt etwa $8.7 Milliarden in Schulden- und Eigenkapitalinvestitionen investiert.
- Net investment income of $0.47 per share exceeds base dividend
- Portfolio growth in Q4 2024
- Total investment fair value reached $1.8 billion
- Maintained consistent quarterly performance despite market challenges
- Strong full-year 2024 net investment income of $2.00 per share
- NAV per share declined 0.3% in Q4
- Market spread tightening affecting returns
- Continued repricing activity impacting portfolio
Insights
CGBD's Q4 results demonstrate resilience amid challenging market conditions, with NII of $0.47 per share comfortably exceeding the base dividend of $0.40. The full-year 2024 NII of $2.00 per share (adjusted $2.02) reflects a dividend coverage ratio of approximately 1.18x, providing a solid cushion for the company's distribution policy.
The slight NAV decline of 0.3% to $16.80 is minimal and likely reflects normal portfolio mark-to-market fluctuations rather than credit deterioration. More significantly, the growth in portfolio fair value to $1.8 billion indicates continued deployment opportunities despite competitive market conditions.
The declared Q1 2025 dividend of $0.45 per share (including a $0.05 supplemental) represents an annualized yield of approximately 10.3% at current prices, positioning CGBD in the mid-to-upper tier of BDC yields. The continuation of the supplemental dividend signals management confidence in sustained earnings power despite spread compression in the middle market lending space.
The refinancing of the 2015-1R CLO was strategically timed and should improve CGBD's cost of capital structure, potentially offsetting some of the margin pressure from tightening spreads and repricing activity. As a Carlyle-managed BDC, CGBD benefits from the broader platform's deal flow and credit expertise, providing competitive advantages in origination and underwriting.
Looking ahead, investors should monitor how CGBD navigates the competing pressures of spread compression versus potential benefits from stabilizing interest rates. The company's ability to grow its investment portfolio while maintaining credit quality will be important to sustaining current dividend levels throughout 2025.
NEW YORK, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Carlyle Secured Lending, Inc. (together with its consolidated subsidiaries, “we,” “us,” “our,” “CGBD” or the “Company”) (NASDAQ: CGBD) today announced its financial results for its fourth quarter and full year ended December 31, 2024. Justin Plouffe, CGBD’s Chief Executive Officer said, “CGBD produced a strong finish to 2024 with portfolio growth driven by fourth quarter net investment activity. Net investment income remained comfortably above our base dividend and consistent with the prior quarter, despite tightening market spreads and continued repricing activity. We are very pleased with our performance throughout the fourth quarter and 2024 broadly, and we look forward to building on this performance throughout 2025.”
Net investment income for the fourth quarter of 2024 was
Net investment income for 2024 was
Dividends
On February 18, 2025, the Board of Directors declared a base quarterly common dividend of
On December 11, 2024, the Company declared a cash dividend on the Preferred Stock for the period from October 1, 2024 to December 31, 2024 in the amount of
Conference Call
The Company will host a conference call at 11:00 a.m. Eastern Time on Wednesday, February 26, 2025 to discuss these quarterly financial results. The conference call will be available via public webcast via a link on Carlyle Secured Lending’s website and will also be available on our website soon after the call’s completion.
Non-GAAP Financial Measures
On a supplemental basis, the Company is disclosing Adjusted Net Investment Income Per Common Share, which is calculated and presented on a basis other than in accordance with GAAP (“non-GAAP”). The Company’s management uses this non-GAAP financial measure internally to analyze and evaluate financial results and performance and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company and to review the Company’s performance without giving effect to one-time or non-recurring investment income and expense events, including the effect on incentive fees. The presentation of this non-GAAP measure is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.
The Company’s management uses the non-GAAP financial measure described above internally to analyze and evaluate financial results and performance and to compare its financial results with those of other business development companies that have not had similar one-time or non-recurring events. The Company’s management believes “Adjusted Net Investment Income Per Common Share” is useful to investors as an additional tool to evaluate ongoing results and trends for the Company without giving effect to one-time or non-recurring events and are used by management to evaluate the economic earnings of the Company.
The following details the one-time or non-recurring events considered as part of the non-GAAP measure. The non-GAAP measure is reflected net of any incentive fee impacts, as applicable.
- On July 2, 2024, Carlyle Direct Lending CLO 2015-1R LLC, a wholly-owned and consolidated subsidiary of the Company, completed the refinancing of its outstanding notes by redeeming the notes in full and issuing new notes and loans (the “2015-1R CLO Reset”). Refer to Note 8, Borrowings, in the Company’s Form 10-K for the Annual Period ended December 31, 2024 for more information on the refinancing. In connection with the refinancing, the debt issuance costs were accelerated in accordance with GAAP.
Carlyle Secured Lending, Inc.
CGBD is an externally managed specialty finance company focused on lending to middle-market companies. CGBD is managed by Carlyle Global Credit Investment Management L.L.C., an SEC-registered investment adviser and a wholly owned subsidiary of The Carlyle Group Inc. Since it commenced investment operations in May 2013 through December 31, 2024, CGBD has invested approximately
Web: carlylesecuredlending.com
About Carlyle
Carlyle (“Carlyle,” or the “Adviser”) (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With
Contacts:
| Investors: | Media: |
| Nishil Mehta | Kristen Greco Ashton |
| +1-212-813-4928 | +1-212-813-4763 |
| publicinvestor@carlylesecuredlending.com | kristen.ashton@carlyle.com |
FAQ
What is CGBD's Q4 2024 net investment income per share?
How much is Carlyle Secured Lending's Q1 2025 dividend payment?
What was CGBD's net asset value (NAV) change in Q4 2024?
What is the total fair value of CGBD's investment portfolio as of December 31, 2024?
What was Carlyle Secured Lending's full-year 2024 net investment income?
