Blackstone / GSO Loan Financing has announced that it is increasing its target dividend to €0.10 per share from €0.08 per share. The company says that, in line with its stated investment strategy, it has originated 9 CLOs since launch and retained majority interests in the income notes in each of them. As at 29 July 2016, 23.87% of the Company’s net asset value had exposure to BGCF’s direct loan portfolio, with 76.13% via BGCF’s indirect loans/CLO portfolio. However, the company says that, as its assets have rotated out of senior secured loans into CLOs, the income it has received has increased such that the Directors of the Company have now increased the Company’s target dividend yield to an annualised rate of €0.10 per share. The company says that the first dividend to be paid in accordance with this revised target yield will be for the quarter to 30 September 2016, which is expected to be declared in October 2016 and paid in November 2016.
Blackstone / GSO Loan Financing announces an increase in its target dividend : BGLF