Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Declares $0.03 Quarterly Dividend

Oaktree Specialty Lending Corp. (NASDAQ:OCSL) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.03 per share by the credit services provider on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Oaktree Specialty Lending has raised its dividend payment by an average of 0.1%per year over the last three years. Oaktree Specialty Lending has a payout ratio of 51.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Oaktree Specialty Lending to earn $1.38 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 87.0%.

Oaktree Specialty Lending Price Performance

NASDAQ OCSL opened at $12.06 on Thursday. The company has a market cap of $1.06 billion, a PE ratio of 21.16 and a beta of 0.49. The firm’s 50 day moving average price is $11.91 and its 200-day moving average price is $11.94. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.17 and a current ratio of 0.17. Oaktree Specialty Lending has a 52-week low of $10.63 and a 52-week high of $14.31.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Wednesday, August 5th. The credit services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. Oaktree Specialty Lending had a net margin of 16.66% and a return on equity of 9.56%. Sell-side analysts forecast that Oaktree Specialty Lending will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Oaktree Specialty Lending

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Garner Asset Management Corp purchased a new stake in Oaktree Specialty Lending during the 4th quarter valued at about $38,000. International Assets Investment Management LLC raised its stake in shares of Oaktree Specialty Lending by 118.3% in the first quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 1,707 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Oaktree Specialty Lending during the fourth quarter worth about $42,000. Fifth Third Bancorp acquired a new stake in shares of Oaktree Specialty Lending during the first quarter worth about $41,000. Finally, Tower Research Capital LLC TRC boosted its position in Oaktree Specialty Lending by 1,025.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider’s stock valued at $57,000 after buying an additional 3,793 shares during the last quarter. Hedge funds and other institutional investors 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.