The following is a summary of the Carlyle Secured Lending Inc. (CGBD) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Carlyle Secured Lending posted a Q4 net investment income of $0.56 per share, an 8% increase QoQ, marking a record high for the company.

• The company declared Q1 2024 dividends at $0.48 per share, showing a rise of 9% over the previous quarter and reflecting enhanced earnings stability.

• The base dividend per share was increased by $0.03 to $0.40, demonstrating sustained business health.

• Net Asset Value stood at $16.99 per share at the end of December, a 1% QoQ increase mainly due to earnings outpacing dividends.

• Total investment income in Q4 amounted to $63 million, indicating a $2 million increase from the previous quarter.

Business Progress:

• Despite market volatility in 2023, Carlyle Secured Lending leveraged their existing relations to source transactions, with half of the deals during the year orchestrated with existing portfolio companies.

• The firm's portfolio remained diverse as it added investments across different income brackets and regions.

• The company reported stable non-accruals in Q4 2023, expressing expectation of further improvement in the coming quarter.

• Carlyle anticipates stable earnings in 2024 based on conservative leverage positioning and latest interest rate curves.

• The company plans to distribute at least 50% of excess earnings through supplemental dividend and it also aims to increase its unsecured debt exposure with an index-eligible deal in late 2024 or early 2025.

More details: Carlyle Secured Lending IR

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