Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Q1 2022 Earnings Conference Call May 4, 2022 8:30 AM ET

Company Participants

Daniel Harris - Head, IR

Linda Pace - CEO

Taylor Boswell - CIO & President

Tom Hennigan - CFO

Conference Call Participants

Operator

Good day and thank you for standing by. Welcome to the Carlyle Secured Lending First Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded. [Operator Instructions].

I would now like to hand the conference over to your speaker today, Daniel Harris. Please go ahead.

Daniel Harris

Good morning, and welcome to Carlyle Secured Lending's first quarter 2022 earnings call.

Last night, we issued an earnings press release and detailed earnings presentation with our quarterly results, a copy of which is available on the Investor Relations section of our website.

Following our remarks today, we will hold a question-and-answer session for analysts and institutional investors. This call is being webcast, and a replay will be available on our website.

Any forward-looking statements made today do not guarantee future performance and undue reliance should not be placed on them. These statements are based on the current management expectations and involve inherent risks and uncertainties, including those identified in the Risk Factors section of our Annual Report on Form 10-K that could cause actual results to differ materially from those indicated. Carlyle Secured Lending assumes no obligation to update forward-looking statements at any time.

With that, I'll turn the call over to our Chief Executive Officer, Linda Pace.

Linda Pace

Thank you, Dan, and good morning, everyone, and thank you all for joining us to discuss Carlyle Secured Lending's first quarter 2022 results.

Joining me on this call are our Chief Investment Officer, and newly appointed President, Taylor Boswell; and our Chief Financial Officer, Tom Hennigan.

Today, I'm going to focus my remarks on three topics. First, I'll provide an overview of this quarter's financial results. Second, I'll touch on investment activity in the current environment. And finally, I'll conclude with a few thoughts around our current positioning.

Let me begin with an overview of our financial results. Despite an increasingly complex market backdrop, we once again generated strong earnings this quarter. Our total net investment income was $0.47 per common share, which included $0.07 of non-recurring income derived from the successful exit of our investment in SolAero. We declared a total dividend of $0.40 per share, representing an annualized yield on our stock of over 11%.