TCG BDC (CGBD) Declares $0.37 Dividend
TCG BDC said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Previously, the company paid $0.37 per share.
Shares must be purchased before the ex-div date of June 29, 2023 to qualify for the dividend. Shareholders of record as of June 30, 2023 will receive the payment on July 18, 2023.
At the current share price of $13.56 / share, the stock's dividend yield is 10.91%.
Looking back five years and taking a sample every week, the average dividend yield has been 12.89%, the lowest has been 8.18%, and the highest has been 39.73%. The standard deviation of yields is 4.66 (n=196).
The current dividend yield is 0.42 standard deviations below the historical average.
The company's 3-Year dividend growth rate is 0.02%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 129 funds or institutions reporting positions in TCG BDC. This is an increase of 15 owner(s) or 13.16% in the last quarter. Average portfolio weight of all funds dedicated to CGBD is 0.15%, a decrease of 21.48%. Total shares owned by institutions increased in the last three months by 7.39% to 13,148K shares. 
The put/call ratio of CGBD is 0.62, indicating a bullish outlook.
Analyst Price Forecast Suggests 12.68% Upside
As of May 11, 2023, the average one-year price target for TCG BDC is 15.28. The forecasts range from a low of 12.12 to a high of $16.80. The average price target represents an increase of 12.68% from its latest reported closing price of 13.56.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for TCG BDC is 217MM, an increase of 4.67%. The projected annual non-GAAP EPS is 1.95.
What are Other Shareholders Doing?
Lsv Asset Management holds 1,457K shares. In it's prior filing, the firm reported owning 886K shares, representing an increase of 39.16%. The firm increased its portfolio allocation in CGBD by 59.11% over the last quarter.
Millennium Management holds 803K shares. In it's prior filing, the firm reported owning 40K shares, representing an increase of 95.00%. The firm increased its portfolio allocation in CGBD by 2,242.21% over the last quarter.
KBWD - Invesco KBW High Dividend Yield Financial ETF holds 767K shares. In it's prior filing, the firm reported owning 871K shares, representing a decrease of 13.52%. The firm decreased its portfolio allocation in CGBD by 1.92% over the last quarter.
Van Eck Associates holds 685K shares. In it's prior filing, the firm reported owning 647K shares, representing an increase of 5.57%. The firm decreased its portfolio allocation in CGBD by 11.19% over the last quarter.
BIZD - VanEck Vectors BDC Income ETF holds 655K shares. In it's prior filing, the firm reported owning 633K shares, representing an increase of 3.37%. The firm increased its portfolio allocation in CGBD by 10.40% over the last quarter.
Carlyle Secured Lending Background Information
(This description is provided by the company.)
TCG BDC is an externally managed specialty finance company focused on lending to middle-market companies. TCG BDC 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, 2020, TCG BDC has invested approximately $6.3 billion in aggregate principal amount of debt and equity investments prior to any subsequent exits or repayments. TCG BDC's investment objective is to generate current income and capital appreciation primarily through debt investments in U.S. middle market companies. TCG BDC has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended.
This story originally appeared on Fintel.