Blackstone Secured Lending Fund (BXSL)

Blackstone Secured Lending Fund (BXSL) is a Delaware statutory trust, established on March 26, 2018, that operates as an externally managed, non-diversified closed-end investment fund. On October 26, 2018, it formally became regulated as a Business Development Company (BDC) under the Investment Company Act of 1940. Additionally, for U.S. federal income tax purposes, it has chosen and plans to retain its status as a Regulated Investment Company (RIC), as defined by Subchapter M of the Internal Revenue Code of 1986. The fund's core mission is to generate current income, complemented by a secondary focus on long-term capital appreciation. To achieve these goals, BXSL primarily invests in private U.S. small and middle-market companies. Its strategy centers on originating various debt and equity securities, most notably first lien senior secured and unitranche loans (which encompass first out/last out structures). While these form the bulk of its holdings, the fund also selectively invests in syndicated loans, second lien, third lien, unsecured, and subordinated loans, as well as other debt and equity instruments.

BXSL is a business development company — a listed vehicle that lends to, and sometimes takes equity in, private middle-market businesses. It elects regulated-investment-company treatment, which requires it to distribute the large majority of its taxable income each year; that requirement, not a board's generosity, is what produces the high headline yield.

The payment is a distribution rather than interest, and it can include return of capital as well as net investment income and realised gains. Most of it is taxed as ordinary income rather than as qualified dividends. The loan book is valued by the manager, not by a market, so net asset value is an estimate. Read how BDCs work.

Figures on this page are computed by Income Investing from the payment history and last price stored in our own database; the payment records come from fmp and the price from fmp, last recomputed Aug 25, 2026. They describe what has been paid, not what will be paid. Yield, payout ratio, our data sources and our methodology are explained elsewhere on the site.

The table lists the 24 most recent recorded dividends for BXSL, newest first, with ex-dates running from Dec 30, 2021 to Sep 30, 2026. The latest is $0.7700 per share in USD, ex-date Sep 30, 2026, pay date Oct 23, 2026. Measured against the nearest payment about a year earlier, 7 are higher, 0 lower and 9 unchanged; the remaining 8 have no comparable payment in the record. None is flagged as a special or one-off payment. Payment records supplied by fmp.

The chart covers 5 complete calendar years for BXSL, 2021 to 2025, per share, in USD. Each bar totals the regular dividends with an ex-dividend date in that calendar year. The year is assigned by ex-dividend date, which is not necessarily the issuer's own dividend year. Our stored payment history for BXSL begins in 2021. The total went from $0.5300 in 2021 to $3.08 in 2025 — 481% higher. Within that span 3 years were higher than the year before and 0 lower. The three most recent years shown are 2023 $2.94, 2024 $3.08 and 2025 $3.08. The current year is still in progress and is left out, and special or one-off payments are excluded. This is a record of what was paid, not a projection. 2 of the years shown do not hold the 4 dividends the recorded cadence implies: 2021 (1 payment) and 2022 (8 payments). Those years are marked on the chart and named in the table. A year with one more or one fewer payment than the cadence implies is usually a payment whose ex-dividend date moved across a year end rather than a change in the payment itself: the payment lands in the neighbouring calendar year, so one year reads high and the next reads low while the rate never moved. The change-on-the-year-before column carries the same distortion, because it compares two totals rather than two payment rates. 2021 is the first year of payments we hold for BXSL, so it is short because our record starts there, not because anything moved. These totals are arithmetically right for what they measure — regular dividends bucketed by ex-dividend date — but they are not the annual dividend the issuer reports for that year, and where the two disagree the issuer's own published dividend history is the authority.