This is a promising BDC income play providing investors with high and stable dividend income. The BDC has a defensively-oriented debt investment portfolio with significant interest rate upside. It covers its dividend with NII and regularly pays supplemental dividends. Based on recurring quarterly dividend distributions, an investment in the stock yields 8.2 percent.
I will add high-quality business development company TPG Specialty Lending, Inc. (TSLX) to my high-yield income portfolio this week. The BDC has a defensively positioned debt investment portfolio and significant interest rate upside since 100 percent of the company's loans are floating-rate. Further, TPG Specialty Lending continues to cover its dividend with net investment income and excess income is distributed to investors as special dividends. An investment in TSLX yields 8.2 percent.
Source: Seeking Alpha
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