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

Oaktree Specialty Lending Co. (NASDAQ:OCSL) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.55 per share by the credit services provider on Tuesday, December 31st. This represents a $2.20 annualized dividend and a dividend yield of 14.03%. The ex-dividend date of this dividend is Monday, December 16th.

Oaktree Specialty Lending has a payout ratio of 95.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Oaktree Specialty Lending to earn $2.19 per share next year, which means the company may not be able to cover its $2.20 annual dividend with an expected future payout ratio of 100.5%.

Oaktree Specialty Lending Trading Up 0.4 %

OCSL stock opened at $15.68 on Thursday. The business has a fifty day moving average price of $16.18 and a 200 day moving average price of $17.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.17 and a quick ratio of 0.17. Oaktree Specialty Lending has a fifty-two week low of $15.40 and a fifty-two week high of $21.64. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 21.78 and a beta of 1.09.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. B. Riley cut their price target on Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday. Oppenheimer downgraded shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $20.00 to $18.00 in a research note on Friday, August 2nd. StockNews.com raised shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company dropped their price objective on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $15.00 price objective (down from $17.00) on shares of Oaktree Specialty Lending in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.75.

About Oaktree Specialty Lending

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.