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Posted by
Two Blokes Jul 11 -
Filed in
Stock
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Carlyle Secured Lending's portfolio quality deteriorated in 1Q25, with non-accruals rising and net investment income dropping 25% year-over-year. The dividend payout ratio hit 100% (112.5% including supplemental), erasing the margin of safety and making the 12% yield unsustainable. The Company trades at a 17% discount to NAV, reflecting market concerns about credit quality and dividend sustainability; a dividend cut appears likely.
