Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information
Our common stock is traded on the NYSE under the symbol “BXSL.” Our common stock has historically traded at prices above our net asset value per share since our common stock began trading on the NYSE on October 28, 2021. It is not possible to predict whether our common stock will trade at a price per share at, above or below net asset value per share. On February 25, 2022, the last reported closing sales price of our common stock on the NYSE was $29.00 per share, which represented a premium of approximately 10.39% to net asset value per share reported by us as of December 31, 2021.
Holders
As of February 25, 2022, there were 11,681 holders of record of our shares.
Distributions and Dividend Reinvestment
We generally intend to distribute, out of assets legally available for distribution, substantially all of our available earnings, on a quarterly basis, as determined by the Board in its discretion. We can offer no assurance that we will achieve results that will permit the payment of any cash distributions and, if we issue senior securities, we will be prohibited from making distributions if doing so causes us to fail to maintain the asset coverage ratios stipulated by the 1940 Act or if distributions are limited by the terms of any of our borrowings.
The following table summarizes our distributions declared and payable for the year ended December 31, 2021 (dollars in thousands except per share amounts):
Date Declared Record Date Payment Date Per Share Amount Total Amount
February 24, 2021 March 31, 2021 May 14, 2021 $ 0.5000 $ 65,052
June 7, 2021 June 7, 2021 August 13, 2021 0.3736 48,734
June 7, 2021 June 30, 2021 August 13, 2021 0.1264 18,241
September 7, 2021 September 7, 2021 November 12, 2021 0.3750 54,250
September 7, 2021 September 30, 2021 November 12, 2021 0.1250 19,800
October 18, 2021 December 31, 2021 January 31, 2022 0.5300 89,715
Total distributions $ 2.0300 $ 295,792
On October 18, 2021, the Board also declared the following special distributions:
Record Date Payment Date Amount Per Share
January 18, 2022 May 13, 2022 $ 0.1000
March 16, 2022 May 13, 2022 0.1500
May 16, 2022 August 12, 2022 0.2000
July 18, 2022 November 14, 2022 0.2000
Total distributions $ 0.6500
Pursuant to our dividend reinvestment plan, the following table summarizes the amounts received and shares issued to shareholders who have not opted out of our dividend reinvestment plan during the year ended December 31, 2021 (dollars in thousands except share amounts):
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Payment Date DRIP Shares Value DRIP Shares Issued
January 29, 2021 $ 11,179 443,639
May 14, 2021 8,674 339,398
August 13, 2021 9,142 352,656
November 12, 2021 9,944 327,082
Total distributions $ 38,939 1,462,775
Share Repurchase Plan
There were no repurchases under the 10b5-1 plan during the year ended December 31, 2021.
Price Range of Common Stock
Our common stock is traded on the NYSE under the symbol “BXSL.” Our common stock has historically traded at prices above our net asset value per share since our common stock began trading on the NYSE on October 28, 2021. It is not possible to predict whether our common stock will trade at a price per share at, above or below net asset value per share.
The following table sets forth the net asset value per share of our common stock, the range of high and low closing sales prices of our common stock reported on the NYSE, the closing sales price as a premium (discount) to net asset value and the dividends declared by us in each fiscal quarter since we began trading on the NYSE. On February 25, 2022, the last reported closing sales price of our common stock on the NYSE was $29.00 per share, which represented a premium of approximately 10.39% to the net asset value per share reported by us as of December 31, 2021.
Price Range
Period Net Asset Value (1)
High Low High Sales Price Premium (Discount) to Net Asset Value (2)
Low Sales Price Premium (Discount) to Net Asset Value (2)
Cash Dividend Per Share (3)
Year End December 31, 2021
Fourth Quarter $ 26.27 $37.64 $27.63 43.3 % N/A $ 0.53
(1) Net asset value per share is determined as of the last day in the relevant quarter and therefore may not reflect the net asset value per share on the date of the high and low closing sales prices. The net asset values shown are based on outstanding shares at the end of the relevant quarter.
(2) Calculated as the respective high or low closing sales price less net asset value (in each case, as of the applicable quarter).
(3) Represents the dividend or distribution declared in the relevant quarter.
Stock Performance Graph
This graph compares the stockholder return on our common stock from October 28, 2021 (the date our common stock commenced trading on the NYSE) to December 31, 2021 with that of the Standard & Poor’s 500 Stock Index, Standard & Poor’s BDC Index and Standard & Poor’s LSTA Leveraged Loan Stock Index. This graph assumes that on October 28, 2021, $100 was invested in our common stock, the Standard & Poor’s BDC Index, the Standard & Poor’s 500 Stock Index and the Standard & Poor’s LSTA Leveraged Loan Stock Index. The graph also assumes the reinvestment of all cash dividends prior to any tax effect. The graph and other information furnished under this Part II Item 5 of this Annual Report on Form 10-K shall not be deemed to be “soliciting material” or to be “filed” with the SEC or subject to Regulation 14A or 14C under, or to the liabilities of Section 18 of, the Exchange Act. The stock price performance included in the below graph is not necessarily indicative of future stock performance.
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COMPARISON OF CUMULATIVE TOTAL RETURN AMONG BLACKSTONE SECURED LENDING FUND STANDARD & POOR’S 500 INDEX, STANDARD & POOR’S BDC INDEX AND STANDARD & POOR’S LSTA LEVERAGED LOAN INDEX
Item 6. Reserved.
The selected financial data previously required by Item 301 of Regulation S-K has been omitted in reliance on SEC Release No. 33-10890, Management's Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information.
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