Oaktree Specialty Lending Co. (NASDAQ:OCSL) Plans Quarterly Dividend of $0.17

Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get Rating) announced a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Shareholders of record on Thursday, September 15th will be given a dividend of 0.17 per share by the credit services provider on Friday, September 30th. This represents a $0.68 annualized dividend and a yield of 9.62%. The ex-dividend date is Wednesday, September 14th. This is a positive change from Oaktree Specialty Lending’s previous quarterly dividend of $0.17.

Oaktree Specialty Lending has raised its dividend by an average of 14.1% annually over the last three years and has raised its dividend every year for the last 3 years. Oaktree Specialty Lending has a payout ratio of 91.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Oaktree Specialty Lending to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 93.0%.

Oaktree Specialty Lending Price Performance

OCSL stock opened at $7.07 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.09 and a quick ratio of 0.09. The business has a 50 day simple moving average of $6.74 and a 200-day simple moving average of $7.13. The firm has a market capitalization of $1.30 billion, a PE ratio of 24.38 and a beta of 1.25. Oaktree Specialty Lending has a 1 year low of $6.20 and a 1 year high of $7.81.

Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The credit services provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Oaktree Specialty Lending had a return on equity of 9.38% and a net margin of 20.52%. The company had revenue of $64.30 million during the quarter, compared to analyst estimates of $58.95 million. Equities research analysts anticipate that Oaktree Specialty Lending will post 0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OCSL. Hovde Group reduced their price objective on Oaktree Specialty Lending to $7.00 in a research note on Friday, May 20th. StockNews.com lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Friday.

Insider Activity

In related news, Director Phyllis R. Caldwell acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was purchased at an average cost of $7.04 per share, for a total transaction of $35,200.00. Following the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $54,208. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, President Mathew Pendo acquired 18,381 shares of the stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $7.06 per share, with a total value of $129,769.86. Following the purchase, the president now directly owns 103,591 shares of the company’s stock, valued at $731,352.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Phyllis R. Caldwell bought 5,000 shares of Oaktree Specialty Lending stock in a transaction that occurred on Wednesday, May 11th. The shares were acquired at an average price of $7.04 per share, for a total transaction of $35,200.00. Following the acquisition, the director now directly owns 7,700 shares in the company, valued at approximately $54,208. The disclosure for this purchase can be found here. In the last three months, insiders purchased 30,881 shares of company stock worth $215,195. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Oaktree Specialty Lending

Institutional investors have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. acquired a new stake in shares of Oaktree Specialty Lending in the 1st quarter valued at about $98,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Oaktree Specialty Lending during the 1st quarter valued at about $115,000. SVB Wealth LLC bought a new stake in shares of Oaktree Specialty Lending during the 1st quarter valued at about $118,000. US Bancorp DE grew its position in Oaktree Specialty Lending by 45.6% in the 1st quarter. US Bancorp DE now owns 17,571 shares of the credit services provider’s stock worth $129,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Oaktree Specialty Lending in the 1st quarter worth about $133,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

About Oaktree Specialty Lending

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Oaktree Specialty Lending Corporation is a business development company 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.