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

Oaktree Specialty Lending Co. (NASDAQ:OCSL) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.55 per share by the credit services provider on Tuesday, December 31st. This represents a $2.20 annualized dividend and a dividend yield of 14.03%. The ex-dividend date is Monday, December 16th.

Oaktree Specialty Lending has a 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 tumble. Equities 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 Oaktree Specialty Lending stock traded up $0.07 on Wednesday, hitting $15.68. 996,095 shares of the company’s stock traded hands, compared to its average volume of 661,814. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.17 and a quick ratio of 0.17. Oaktree Specialty Lending has a one year low of $15.40 and a one year high of $21.64. The firm’s 50-day moving average price is $16.19 and its two-hundred day moving average price is $17.50. The stock has a market capitalization of $1.29 billion, a PE ratio of 17.98 and a beta of 1.09.

Analyst Ratings Changes

OCSL has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Oppenheimer lowered shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $20.00 to $18.00 in a report on Friday, August 2nd. Keefe, Bruyette & Woods reduced their target price on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Wednesday. StockNews.com downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Finally, B. Riley cut their price objective on shares of Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average 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.