Oaktree Specialty Lending Co. Declares Quarterly Dividend of $0.55 (NASDAQ:OCSL)

Oaktree Specialty Lending Co. (NASDAQ:OCSL) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.55 per share by the credit services provider on Friday, June 28th. This represents a $2.20 dividend on an annualized basis and a yield of 11.35%. The ex-dividend date is Friday, June 14th.

Oaktree Specialty Lending has raised its dividend by an average of 21.9% per year over the last three years and has increased its dividend every year for the last 4 years. Oaktree Specialty Lending has a payout ratio of 96.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Oaktree Specialty Lending to earn $2.30 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 95.7%.

Oaktree Specialty Lending Trading Down 0.6 %

OCSL stock traded down $0.11 during mid-day trading on Thursday, reaching $19.39. 32,907 shares of the stock traded hands, compared to its average volume of 646,423. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.25 and a current ratio of 0.25. Oaktree Specialty Lending has a one year low of $17.99 and a one year high of $21.64. The stock has a market capitalization of $1.53 billion, a PE ratio of 14.55 and a beta of 1.06. The business has a 50-day moving average price of $19.55 and a two-hundred day moving average price of $19.95.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Oaktree Specialty Lending had a net margin of 25.90% and a return on equity of 12.18%. The firm had revenue of $94.03 million for the quarter, compared to the consensus estimate of $99.66 million. During the same quarter last year, the firm earned $0.62 EPS. Equities research analysts expect that Oaktree Specialty Lending will post 2.31 EPS for the current year.

Analyst Ratings Changes

OCSL has been the topic of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Oaktree Specialty Lending in a research report on Tuesday, March 26th. B. Riley cut shares of Oaktree Specialty Lending from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a report on Monday, January 8th. JPMorgan Chase & Co. cut their price target on shares of Oaktree Specialty Lending from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Keefe, Bruyette & Woods cut shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $22.00 to $19.00 in a report on Friday, February 2nd. Finally, Wells Fargo & Company upped their price target on shares of Oaktree Specialty Lending from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Oaktree Specialty Lending currently has an average rating of “Hold” and an average target price of $20.67.

Insider Buying and Selling

In other Oaktree Specialty Lending news, Director Phyllis R. Caldwell acquired 2,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $20.07 per share, with a total value of $40,140.00. Following the completion of the purchase, the director now directly owns 11,166 shares in the company, valued at $224,101.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies.