Top 3 Business Development Companies for Double-Digit Dividends Blackstone Secured Lending Fund (NYSE:BXSL) reported first-quarter 2026 net investment income of $179 million, or $0.77 per share, fully covering its quarterly dividend, as management emphasized the resilience of…
s senior secured lending portfolio amid market volatility and rising non-accruals. Co-Chief Executive Officer Brad Marshall said the quarter unfolded against “an uncertain backdrop across asset classes,” citing negative returns for the S&P 500, investment-grade credit, high yield and broadly syndicated loans
He said leveraged loan spreads widened by roughly 50 basis points during the quarter, while private credit continued to see demand from borrowers, with more than 80% of leveraged buyout financings through the quarter choosing private lenders. Marshall said BXSL generated a total net return of more than 70 basis points during the quarter, deployed $325 million of new capital and saw nearly $450 million of repayments. He added that the company has visibility into more than $600 million of repayments over the next three to four months, which management expects to use for a combination of new investments and share repurchases.
Dividend Covered as NAV Declines Chief Financial Officer Teddy Desloge said BXSL’s $0.77 per-share net investment income represented 100% coverage of the dividend on a per-share basis. Payment-in-kind income represented less than 7% of total income, down from more than 8% in the prior quarter, while interest income excluding payment-in-kind, fees and dividends represented more than 92% of total investment income. Desloge said BXSL has out-earned its dividend every quarter since inception.