Oaktree Specialty Lending Corp. (OCSL) To Go Ex-Dividend on June 15th

Oaktree Specialty Lending Corp. (NASDAQ:OCSL) announced a quarterly dividend on Tuesday, May 5th. Stockholders of record on Monday, June 15th will be paid a dividend of 0.30 per share by the credit services provider on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date of this dividend is Monday, June 15th.

Oaktree Specialty Lending has increased its dividend by an average of 0.1%per year over the last three years. Oaktree Specialty Lending has a dividend payout ratio of 69.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Oaktree Specialty Lending to earn $1.48 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 108.1%.

Oaktree Specialty Lending Stock Performance

Shares of NASDAQ:OCSL opened at $12.51 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.16 and a quick ratio of 0.16. The business’s 50 day moving average price is $11.77 and its 200-day moving average price is $12.60. The firm has a market capitalization of $1.10 billion, a PE ratio of 21.95 and a beta of 0.52. Oaktree Specialty Lending has a 1 year low of $10.63 and a 1 year high of $14.77.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $69.74 million for the quarter, compared to analyst estimates of $74.35 million. Oaktree Specialty Lending had a return on equity of 9.43% and a net margin of 16.66%.During the same period in the previous year, the company posted $0.45 earnings per share. As a group, equities research analysts expect that Oaktree Specialty Lending will post 1.49 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Phyllis R. Caldwell bought 2,500 shares of the business’s stock in a transaction on Monday, March 16th. The stock was acquired at an average cost of $10.77 per share, with a total value of $26,925.00. Following the purchase, the director directly owned 23,500 shares of the company’s stock, valued at $253,095. The trade was a 11.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oaktree Specialty Lending

Several large investors have recently modified their holdings of the business. Stonegate Investment Group LLC lifted its stake in shares of Oaktree Specialty Lending by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 15,171 shares of the credit services provider’s stock valued at $198,000 after purchasing an additional 800 shares during the last quarter. Cornerstone Advisory LLC lifted its stake in shares of Oaktree Specialty Lending by 2.0% in the 1st quarter. Cornerstone Advisory LLC now owns 43,702 shares of the credit services provider’s stock valued at $494,000 after purchasing an additional 844 shares during the last quarter. Running Point Capital Advisors LLC lifted its stake in shares of Oaktree Specialty Lending by 3.1% in the 4th quarter. Running Point Capital Advisors LLC now owns 28,789 shares of the credit services provider’s stock valued at $367,000 after purchasing an additional 877 shares during the last quarter. Close Asset Management Ltd lifted its stake in shares of Oaktree Specialty Lending by 19.4% in the 3rd quarter. Close Asset Management Ltd now owns 7,400 shares of the credit services provider’s stock valued at $97,000 after purchasing an additional 1,200 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Oaktree Specialty Lending by 11.9% in the 3rd quarter. SG Americas Securities LLC now owns 11,940 shares of the credit services provider’s stock valued at $156,000 after purchasing an additional 1,265 shares during the last quarter. Institutional investors and hedge funds own 36.79% of the company’s stock.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.