Oaktree Specialty Lending Co. (NASDAQ:OCSL) to Issue $0.55 Quarterly Dividend

Oaktree Specialty Lending Co. (NASDAQ:OCSL - Get Free Report) declared 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 annualized dividend and a yield of 11.40%. The ex-dividend date is Friday, June 14th.

Oaktree Specialty Lending has increased its dividend payment by an average of 21.9% annually over the last three years and has raised 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 decline. 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 Stock Performance

OCSL stock traded down $0.21 during midday trading on Thursday, reaching $19.29. 585,720 shares of the company's stock traded hands, compared to its average volume of 653,137. The company has a 50-day moving average price of $19.55 and a two-hundred day moving average price of $19.95. 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 52 week low of $17.99 and a 52 week high of $21.64. The firm has a market capitalization of $1.52 billion, a PE ratio of 14.43 and a beta of 1.06.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $0.56 earnings per share (EPS) 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 business had revenue of $94.03 million for the quarter, compared to the consensus estimate of $99.66 million. During the same period in the previous year, the firm earned $0.62 EPS. As a group, equities analysts anticipate that Oaktree Specialty Lending will post 2.31 EPS for the current year.

Insider Buying and Selling

In related news, Director Phyllis R. Caldwell bought 2,000 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $20.07 per share, for a total transaction of $40,140.00. Following the completion of the transaction, the director now owns 11,166 shares of the company's stock, valued at $224,101.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OCSL shares. JMP Securities reissued a "market outperform" rating and set a $21.00 target price on shares of Oaktree Specialty Lending in a report on Tuesday, March 26th. Keefe, Bruyette & Woods cut shares of Oaktree Specialty Lending from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $22.00 to $19.00 in a report on Friday, February 2nd. 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. JPMorgan Chase & Co. decreased 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. Finally, 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.67.

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.