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

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

Oaktree Specialty Lending has a dividend 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. 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 %

NASDAQ:OCSL traded up $0.07 during midday trading 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 quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 17.98 and a beta of 1.09. The stock has a 50-day moving average of $16.19 and a 200 day moving average of $17.50. Oaktree Specialty Lending has a one year low of $15.40 and a one year high of $21.64.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on OCSL shares. Keefe, Bruyette & Woods lowered their price objective on Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Wednesday. JMP Securities cut shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research note on Tuesday. StockNews.com cut shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Wells Fargo & Company reduced their price target on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $15.00 target price (down from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.