Morgan Stanley Direct Lending Fund (MSDL) Dividend Coverage Ratio (2022 - 2026)
Morgan Stanley Direct Lending Fund's (MSDL) quarterly Dividend Coverage Ratio came in at 0.16 in Q2 2026, down 21.37% year-over-year from 0.2 in Q2 2025, and down 29.93% quarter-over-quarter from 0.23 in Q1 2026.
Analysis
Morgan Stanley Direct Lending Fund (MSDL) Dividend Coverage Ratio (2022 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has reported Dividend Coverage Ratio for 5 consecutive years, with 0.16 the latest figure, recorded in Q2 2026.
- On a quarterly basis, Dividend Coverage Ratio fell 21.37% year-over-year to 0.16 in Q2 2026; TTM through Jun 2026 was 0.21, a 36.92% decrease from a year earlier, with the FY2025 full-year figure at 0.22, down 62.33% from the prior year.
- Dividend Coverage Ratio was 0.16 for Q2 2026 at Morgan Stanley Direct Lending Fund, down from 0.23 in the prior quarter.
- Over five years, Dividend Coverage Ratio peaked at 0.85 in Q4 2023 and troughed at 0.16 in Q2 2026.
- A 5-year average of 0.53 and a median of 0.67 in 2022 frame the typical range for Dividend Coverage Ratio.
- Across the five-year window, Dividend Coverage Ratio soared 32.66% in 2023 and sank 74.35% in 2025, its largest moves.
- Over 5 years, Dividend Coverage Ratio stood at 0.64 in 2022, then soared by 32.66% to 0.85 in 2023, then sank by 61.2% to 0.33 in 2024, then tumbled by 36.28% to 0.21 in 2025, then slipped by 23.45% to 0.16 in 2026.
- The last three Dividend Coverage Ratio figures came in at 0.16 (Q2 2026), 0.23 (Q1 2026), and 0.21 (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Div. Cover (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.12 Bn | 13.73 Bn | - | 0.42 |
| 2 | Blackstone Secured Lending Fund | 5.69 Bn | 5.42 Bn | - | 0.43 |
| 3 | Blue Owl Capital | 5.52 Bn | 5.28 Bn | - | 0.29 |
| 4 | Main Street Capital | 5.26 Bn | 5.20 Bn | - | 1.89 |
| 5 | Blue Owl Technology Finance | 5.05 Bn | 4.84 Bn | - | 0.18 |
| 6 | Hercules Capital | 4.64 Bn | 4.59 Bn | - | 0.69 |
| 7 | FS KKR Capital | 3.37 Bn | 3.27 Bn | - | - |
| 8 | Golub Capital Bdc | 3.34 Bn | 3.30 Bn | - | -0.06 |
| 9 | PennantPark Floating Rate Capital | 2.48 Bn | -129.09 Mn | - | -0.63 |
| 10 | Morgan Stanley Direct Lending Fund | 1.25 Bn | 1.17 Bn | - | 0.16 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.16 |
| Mar 31, 2026 | 0.23 |
| Dec 31, 2025 | 0.21 |
| Sep 30, 2025 | 0.23 |
| Jun 30, 2025 | 0.20 |
| Mar 31, 2025 | 0.23 |
| Dec 31, 2024 | 0.33 |
| Sep 30, 2024 | 0.57 |
| Jun 30, 2024 | 0.79 |
| Mar 31, 2024 | 0.74 |
| Dec 31, 2023 | 0.85 |
| Sep 30, 2023 | 0.70 |
| Jun 30, 2023 | 0.77 |
| Mar 31, 2023 | 0.74 |
| Dec 31, 2022 | 0.64 |
| Sep 30, 2022 | 0.72 |
| Jun 30, 2022 | 0.77 |
| Mar 31, 2022 | 0.73 |