Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get Rating) announced a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Stockholders of record on Thursday, September 15th will be given a dividend of 0.17 per share by the credit services provider on Friday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 9.62%. The ex-dividend date of this dividend is Wednesday, September 14th. This is an increase from Oaktree Specialty Lending’s previous quarterly dividend of $0.17.
Oaktree Specialty Lending has raised its dividend payment by an average of 14.1% per year over the last three years and has raised its dividend every year for the last 3 years. Oaktree Specialty Lending has a dividend payout ratio of 91.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Oaktree Specialty Lending to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 93.0%.
Oaktree Specialty Lending Stock Performance
Shares of NASDAQ OCSL traded up $0.06 during midday trading on Friday, hitting $7.07. 37,952 shares of the company’s stock traded hands, compared to its average volume of 607,620. Oaktree Specialty Lending has a 1 year low of $6.20 and a 1 year high of $7.81. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.28 and a beta of 1.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a fifty day moving average of $6.74 and a 200 day moving average of $7.13.
Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) last released its earnings results on Thursday, May 5th. The credit services provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $64.30 million during the quarter, compared to analyst estimates of $58.95 million. Oaktree Specialty Lending had a net margin of 53.18% and a return on equity of 9.59%. On average, analysts forecast that Oaktree Specialty Lending will post 0.72 earnings per share for the current year.
Insider Activity at Oaktree Specialty Lending
In other Oaktree Specialty Lending news, Director Phyllis R. Caldwell bought 5,000 shares of Oaktree Specialty Lending stock in a transaction on Wednesday, May 11th. The shares were acquired at an average price of $7.04 per share, for a total transaction of $35,200.00. Following the completion of the purchase, the director now directly owns 7,700 shares in the company, valued at approximately $54,208. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Oaktree Specialty Lending news, President Mathew Pendo bought 18,381 shares of Oaktree Specialty Lending stock in a transaction on Monday, May 9th. The shares were acquired at an average price of $7.06 per share, for a total transaction of $129,769.86. Following the completion of the purchase, the president now directly owns 103,591 shares in the company, valued at approximately $731,352.46. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Phyllis R. Caldwell purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were purchased at an average price of $7.04 per share, for a total transaction of $35,200.00. Following the purchase, the director now owns 7,700 shares of the company’s stock, valued at approximately $54,208. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 30,881 shares of company stock worth $215,195. Company insiders own 0.32% of the company’s stock.
Hedge Funds Weigh In On Oaktree Specialty Lending
Several institutional investors have recently made changes to their positions in the company. Muzinich & Co. Inc. raised its position in Oaktree Specialty Lending by 2.3% during the first quarter. Muzinich & Co. Inc. now owns 876,989 shares of the credit services provider’s stock valued at $6,463,000 after acquiring an additional 19,965 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Oaktree Specialty Lending by 0.3% during the first quarter. The Manufacturers Life Insurance Company now…