SmarterDividends
MSDL

Morgan Stanley Direct Lending Fund

MSDL

Financial Services · Asset Management · Stock · quarterly payer

$13.03

Undervalued · +40% Add to Portfolio

Forward Yield

13.81%

Annual Dividend

$1.80

Payout Ratio

275%

5-Yr Growth

—

Ex-Date

Sep 30, 2026

Frequency

Quarterly

Key facts about MSDL's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 18, 2026, Morgan Stanley Direct Lending Fund (MSDL) has a forward dividend yield of 13.81%, based on an annual dividend of $1.80 per share and a share price of $13.03.
  • As of Oct 18, 2026, MSDL's dividend safety grade from SmarterDividends is D (40 out of 100), which rates the dividend as unsafe.
  • MSDL has never cut its regular dividend in the payment history SmarterDividends has on record.
  • MSDL's most recent ex-dividend date was Sep 30, 2026, for a dividend of $0.45 per share.
  • As of Oct 18, 2026, MSDL pays out 275% of its trailing 12-month earnings as dividends (its payout ratio).
  • As of Oct 18, 2026, MSDL's 13.81% yield is 30% above its five-year average yield of 10.65%.
  • As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for MSDL is $18.25 per share, 40% above the $13.03 share price, so MSDL screens as undervalued.
  • Morgan Stanley Direct Lending Fund (MSDL) pays its dividend quarterly, 4 times a year.
  • Morgan Stanley Direct Lending Fund (MSDL) has raised its regular dividend 0 times and cut it 1 time across the 13 payments on record since 2024. Its most recent change was a 10.0% cut to $0.450 per share, going ex-dividend on Mar 31, 2026.
Cite this page

SmarterDividends, "MSDL Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/MSDL

Summary

As of Oct 18, 2026, Morgan Stanley Direct Lending Fund (MSDL) yields 13.81% ($1.80 a year per share) and has a dividend safety grade of D (40/100).

Is MSDL a good dividend stock?

Higher risk

Morgan Stanley Direct Lending Fund (MSDL) pays a quarterly dividend yielding 13.81% ($1.80/yr), with 1 year of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk.

Advantages

  • Never cut its dividend on record

Risks

  • Elevated payout ratio (275%)
  • Very high yield can signal elevated risk
  • Below-average dividend safety score

Key Data

Dividend Yield
13.81%
Payout Ratio
275%
Annual Dividend
$1.80
5-Yr Avg Growth
—
Ex-Dividend Date
Sep 30, 2026
Years of Growth
1
Frequency
quarterly
Beta
0.68
Market Cap
$1.1B
P/E Ratio
18.9
5-Yr Total Return
—
52-Week Range
$12.94 – $17.91
Dividend Safety
D · 40/100
Ever Cut?
No

MSDL dividend raises and cuts

Morgan Stanley Direct Lending Fund (MSDL) has raised its regular dividend 0 times and cut it 1 time across the 13 payments on record since 2024. Its most recent change was a 10.0% cut to $0.450 per share, going ex-dividend on Mar 31, 2026.

Ex-dateChangeOld → newMove
Mar 31, 2026Cut$0.500 → $0.450−10.0%
Every MSDL payment →Download every raise and cut (CSV)
MSDL ex-dividend date & scheduleNext ex-date Sep 30, 2026 · full ex-dividend historyView →MSDL dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is MSDL a good dividend stock?

Higher risk. Morgan Stanley Direct Lending Fund (MSDL) pays a quarterly dividend yielding 13.81% ($1.80/yr), with 1 year of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk.

Is MSDL undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, MSDL's fair value is about $18.25 versus a $13.03 share price — so it looks undervalued (+40% vs. fair value).

Is MSDL's dividend safe?

MSDL has a dividend-safety grade of D (40/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a clean no-cut history, debt and yield-versus-history.

What is MSDL's fair value?

Our blended fair-value estimate for MSDL is about $18.25 per share, roughly 40% above the current $13.03 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is MSDL a buy, hold, or sell?

We don't issue formal ratings, but on the data MSDL screens as "higher risk" and undervalued. Morgan Stanley Direct Lending Fund (MSDL) pays a quarterly dividend yielding 13.81% ($1.80/yr), with 1 year of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk. This is research for your own analysis, not investment advice.

Will MSDL cut its dividend?

MSDL earns a dividend-safety grade of D (40/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does MSDL pay a dividend?

Yes. Morgan Stanley Direct Lending Fund pays a quarterly dividend of about $1.80 per share annually, a forward yield of roughly 13.81%.

What is MSDL's dividend yield?

As of Oct 18, 2026, MSDL's forward dividend yield is 13.81%, based on a $1.80 annual dividend and a $13.03 share price.

What is MSDL's dividend per share?

As of Oct 18, 2026, MSDL pays $1.80 per share per year, distributed on a quarterly basis.

What is MSDL's dividend payout ratio?

As of Oct 18, 2026, MSDL's payout ratio is 275% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has MSDL grown its dividend?

As of Oct 18, 2026, MSDL has increased its dividend for 1 consecutive years.

When is the next MSDL ex-dividend date?

As of Oct 18, 2026, MSDL's next ex-dividend date hasn't been announced. The most recent was Sep 30, 2026, for $0.45 per share.

Income Calculator

At $1.80 / yr per share

Per payment (quarterly)$45.00
Annual$180.00
Monthly avg$15.00

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