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

Oaktree Specialty Lending Co. (NASDAQ:OCSL) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Shareholders 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 14.03%. The ex-dividend date of this dividend is Monday, December 16th.

Oaktree Specialty Lending has a payout ratio of 95.2% 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 $2.25 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 97.8%.

Oaktree Specialty Lending Trading Up 0.4 %

Shares of OCSL stock traded up $0.07 on Wednesday, hitting $15.68. The stock had a trading volume of 817,306 shares, compared to its average volume of 661,424. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $1.29 billion, a P/E ratio of 17.98 and a beta of 1.09. The company’s 50 day moving average price is $16.19 and its 200-day moving average price is $17.50. Oaktree Specialty Lending has a 1 year low of $15.40 and a 1 year high of $21.64.

Analysts Set New Price Targets

Several research analysts have commented on OCSL shares. Wells Fargo & Company lowered their price target on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. JMP Securities lowered Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday. Keefe, Bruyette & Woods reduced their target price on Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Wednesday. B. Riley dropped their price target on Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, StockNews.com cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.