MSDL Morgan Stanley Direct Lending Fund — dividend yield, history & ex-dividend dates
Morgan Stanley Direct Lending Fund functions as a business development company (BDC) specializing in finance, primarily providing capital to mid-sized enterprises. Its investment strategy focuses on directly originating and funding senior secured term loans, encompassing both first-lien and second-lien security interests. This entity commenced operations on May 30, 2019, and maintains its principal headquarters in New York City.
Dividend Snapshot
Key Metrics
Current Yield
12.24%
At the Sep 14, 2026 price
The annual dividend as a percentage of the share price. A 3% yield is about $3 of dividends a year for every $100 invested at today's price.Annualized Dividend
$1.8000
The most recent payment scaled to a full year by how often it's paid. A $0.25 quarterly dividend annualizes to $1.00.Frequency
Q Quarterly
How often the dividend is paid: Q = quarterly (4x a year), M = monthly, S = semi-annual, A = annual.Rank Score
26.2
As of Sep 14, 2026
Our 0-100 house score blending yield quality, payout sustainability (the trailing-twelve-month payout ratio), profitability (TTM return on equity), valuation (TTM price-to-book) and payment reliability, recomputed daily. Higher means a stronger profile on those factors in our model — a research score, not advice or a recommendation to buy.RSI (14)
36
As of Sep 14, 2026
Relative Strength Index (0-100), a price-momentum gauge. Above 70 is often called 'overbought', below 30 'oversold'. A technical signal, not a dividend metric.52-Week Range
$13.82 – $17.86
Closes through Sep 11, 2026
The lowest and highest price over the past year — shows where today's price sits in its recent range.Payout Ratio (TTM)
281.92% (EPS-based)
12 months to Jun 30, 2026 (Q2 FY2026)
The share of earnings paid out as dividends over the trailing twelve months (TTM): dividends paid divided by net income across the company's four most recent reported quarters, dated by the latest quarter end. A fiscal-year tag such as FY2025 means only annual figures were available. Lower leaves more cushion; above 100% means paying out more than the company earned. It shows n/a for funds and when net income over the period was negative; for REITs and BDCs it is marked EPS-based, since they are judged on FFO/AFFO or net investment income instead.Years Paying
2
How many years of payments we have on record. This can understate very long histories where our data doesn't reach far enough back.Price / Book (TTM)
0.76
Price as of Sep 14, 2026; latest reported book value
Price-to-book ratio: the share price on the date shown divided by the latest reported book value per share. A rough valuation gauge, most useful for asset-heavy sectors like REITs, banks and insurers.S.A.F.E. Dividend Read
Quote & Key Data
Dividend Growth
Why the Yield Moved (90 Days)
MSDL's dividend yield rose from 11.56% to 12.24% over the past ~90 days (+0.68 pp). Of that move, +0.00 pp came from changes in the dividend rate and +0.68 pp from the share price ($15.57 on Jun 16, 2026 → $14.71 on Sep 14, 2026). A yield that rises because the price fell is not an improvement in the payout itself.
Yield vs Its Own History
Across 333 daily observations over the past 16 months (through Sep 11, 2026), MSDL's current yield is higher than approximately 81% of them. Our stored price history for MSDL covers the past 16 months; 3- and 5-year averages are not yet computable from it and are deliberately not shown.
Adjusted Price History
Dividend History
Dividend Payment History
Ex-dividend calendar →| Amount | Type | Declared | Ex-Date | Record | Pay |
|---|---|---|---|---|---|
| $0.4500 Q | Regular | Aug 04, 2026 | Sep 30, 2026 | Sep 30, 2026 | Oct 23, 2026 |
| $0.4500 Q | Regular | May 05, 2026 | Jun 30, 2026 | Jun 30, 2026 | Jul 24, 2026 |
| $0.4500 Q | Regular | Feb 26, 2026 | Mar 31, 2026 | Mar 31, 2026 | Apr 24, 2026 |
| $0.5000 Q | Regular | Nov 06, 2025 | Dec 31, 2025 | Dec 31, 2025 | Jan 23, 2026 |
| $0.5000 Q | Regular | Aug 07, 2025 | Sep 30, 2025 | Sep 30, 2025 | Oct 24, 2025 |
| $0.5000 Q | Regular | May 08, 2025 | Jun 30, 2025 | Jun 30, 2025 | Jul 25, 2025 |
| $0.5000 Q | Regular | Feb 27, 2025 | Mar 31, 2025 | Mar 31, 2025 | Apr 25, 2025 |
| $0.5000 Q | Regular | Nov 07, 2024 | Dec 31, 2024 | Dec 31, 2024 | Jan 24, 2025 |
| $0.1000 S | Regular | Aug 05, 2024 | Nov 04, 2024 | Nov 04, 2024 | Jan 24, 2025 |
| $0.5000 Q | Regular | Aug 06, 2024 | Sep 30, 2024 | Sep 30, 2024 | Oct 25, 2024 |
| $0.1000 S | Regular | Jan 11, 2024 | Aug 05, 2024 | Aug 05, 2024 | Oct 25, 2024 |
| $0.5000 Q | Regular | May 08, 2024 | Jun 28, 2024 | Jun 28, 2024 | Jul 25, 2024 |
| $0.5000 Q | Regular | Feb 29, 2024 | Mar 27, 2024 | Mar 29, 2024 | Apr 25, 2024 |
| $0.6000 S | Regular | - | Dec 27, 2023 | Dec 28, 2023 | Jan 25, 2024 |
Peer Comparison
Selected Financial - Conglomerates dividend payers we cover, strongest DividendRank first — for context, not a recommendation.
| Ticker | Name | Yield | 5-Yr Growth | Streak | Rank |
|---|---|---|---|---|---|
| SBHGF | SBI Holdings, Inc. | 0.91% | 5.3% | 1 yr | 62 |
| RILYN | B. Riley Financial, Inc. - 6.50 | 6.45% | 0.0% | 0 yrs | 53 |
Related Guides & Lists
MSDL dividend — frequently asked questions
Does Morgan Stanley Direct Lending Fund pay a dividend?
Yes. Morgan Stanley Direct Lending Fund (MSDL) currently pays a dividend. The annualized dividend is about $1.80 per share, a yield of approximately 12.24%.
What is Morgan Stanley Direct Lending Fund's dividend yield?
Morgan Stanley Direct Lending Fund's dividend yield is approximately 12.24%, based on the most recent regular payment annualized against the current share price. Yields move as the share price changes.
How often does Morgan Stanley Direct Lending Fund pay dividends?
Morgan Stanley Direct Lending Fund pays dividends quarterly — 4 times per year.
When is Morgan Stanley Direct Lending Fund's next ex-dividend date?
The next ex-dividend date on record for Morgan Stanley Direct Lending Fund is September 30, 2026. The associated payment is $0.4500 per share; you must own the shares before the ex-dividend date to receive it.
How long has Morgan Stanley Direct Lending Fund paid dividends?
Morgan Stanley Direct Lending Fund has 2 years of dividend payments on record.
Data updated Sep 14, 2026. This research page is generated from Dividendly's structured market and dividend dataset using the approach described on our methodology and data sources pages. Data is automatically validated using defined rules and may also be periodically reviewed. Research only, not investment advice. Spotted a data error? Report it.