Oaktree Specialty Lending Corp (NASDAQ:OCSL) Plans $0.10 Quarterly Dividend
Oaktree Specialty Lending Corp (NASDAQ:OCSL) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.095 per share by the credit services provider on Friday, June 28th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date is Thursday, June 13th.
Oaktree Specialty Lending has a dividend payout ratio of 92.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Oaktree Specialty Lending to earn $0.53 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 71.7%.
Shares of Oaktree Specialty Lending stock opened at $5.46 on Wednesday. Oaktree Specialty Lending has a 12 month low of $4.08 and a 12 month high of $5.75. The company has a market cap of $778.10 million, a price-to-earnings ratio of 12.70, a PEG ratio of 5.56 and a beta of 0.53. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.18.
OCSL has been the subject of a number of research analyst reports. Zacks Investment Research cut Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. TheStreet cut Oaktree Specialty Lending from a “b” rating to a “c” rating in a report on Friday, March 22nd. National Securities restated a “buy” rating and issued a $7.00 price target on shares of Oaktree Specialty Lending in a research report on Monday, May 13th. Finally, ValuEngine lowered Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $5.88.
In related news, major shareholder Leonard M. Tannenbaum sold 101,101 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $5.30, for a total value of $535,835.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Leonard M. Tannenbaum sold 364,900 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $5.45, for a total value of $1,988,705.00. The disclosure for this sale can be found here. Insiders sold 1,061,435 shares of company stock valued at $5,834,726 over the last 90 days. Company insiders own 0.16% of the company’s stock.
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Oaktree Specialty Lending Company Profile
Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, and management buyouts in small and mid-sized companies.
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