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

Oaktree Specialty Lending Co. (NASDAQ:OCSL) declared a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Investors of record on Monday, December 16th will be given a dividend of 0.55 per share by the credit services provider on Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a yield of 13.72%. The ex-dividend date of this dividend is Monday, December 16th.

Oaktree Specialty Lending has a dividend 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 fall. Equities research analysts expect Oaktree Specialty Lending to earn $1.98 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 111.1%.

Oaktree Specialty Lending Trading Down 1.2 %

OCSL opened at $16.04 on Friday. The business’s 50 day moving average price is $16.18 and its 200 day moving average price is $17.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market capitalization of $1.32 billion, a PE ratio of 22.28 and a beta of 1.07. Oaktree Specialty Lending has a one year low of $15.40 and a one year high of $21.64.

Wall Street Analyst Weigh In

Several research analysts recently commented on OCSL shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $15.00 target price (down from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday, November 20th. Citizens Jmp downgraded Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 19th. StockNews.com lowered shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Tuesday. Oppenheimer reaffirmed a “market perform” rating and issued a $18.00 target price on shares of Oaktree Specialty Lending in a report on Friday, November 22nd. Finally, JMP Securities downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $16.75.

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.