Oaktree Specialty Lending Corporation
OCSLFinancial Services · Stock · quarterly payer
Forward Yield
10.59%
Annual Dividend
$1.32
Payout Ratio
321%
5-Yr Growth
6.8%
Ex-Date
Sep 15, 2026
Frequency
Quarterly
Summary
As of September 2026, Oaktree Specialty Lending Corporation (OCSL) yields 10.59% ($1.32 per share annually), with a blended fair-value estimate of $11.21 — -10% downside, so it screens as fairly valued. Dividend safety grade: D (44/100).
Is OCSL a good dividend stock?
MixedOaktree Specialty Lending Corporation (OCSL) pays a quarterly dividend yielding 10.59% ($1.32/yr), with 0 years of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
- Strong 6.8% 5-yr dividend growth
Risks
- Cut its dividend in 2025
- Elevated payout ratio (321%)
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
- Below-average dividend safety score
Key Data
- Dividend Yield
- 10.59%
- Payout Ratio
- 321%
- Annual Dividend
- $1.32
- 5-Yr Avg Growth
- 6.8%
- Ex-Dividend Date
- Sep 15, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 0.57
- Market Cap
- $1.1B
- P/E Ratio
- 25.8
- 5-Yr Total Return
- -44%
- 52-Week Range
- $10.63 – $14.31
- Dividend Safety
- D · 44/100
- Ever Cut?
- Yes (2025)
Frequently Asked Questions
OCSL Price — Last 12 Months
Daily close
Price Return
1 Year
-11%
3 Years
-35%
5 Years
-44%
52-Week Range
$10.63 – $14.31
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is OCSL worth?
Fairly valuedlow confidenceOur blended fair-value estimate for Oaktree Specialty Lending Corporation is $11.21 per share, versus a market price of $12.41. That implies the stock is roughly fairly priced.
Fair Value
$11.21
Current Price
$12.41
Gap
-10%
Margin of Safety
-11%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -0.5% annual free-cash-flow growth. We model -5.0% — so the price already assumes faster growth than we think is likely.
Assumptions: 7.2% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, $0.48 EPS, $1.32 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
OCSL Dividend Safety Score
Risky
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 15, 2026 | — | $0.3300 | regular |
| Jun 15, 2026 | — | $0.3400 | regular |
| Mar 16, 2026 | — | $0.4000 | regular |
| Dec 15, 2025 | — | $0.4000 | regular |
| Sep 15, 2025 | — | $0.4000 | regular |
| Jun 16, 2025 | — | $0.4200 | regular |
| Mar 17, 2025 | — | $0.4700 | regular |
| Dec 16, 2024 | — | $0.5500 | regular |
| Sep 16, 2024 | — | $0.5500 | regular |
| Jun 14, 2024 | — | $0.5500 | regular |
| Mar 14, 2024 | — | $0.5500 | regular |
| Dec 14, 2023 | — | $0.6200 | regular |
| Sep 14, 2023 | — | $0.5500 | regular |
| Jun 14, 2023 | — | $0.5500 | regular |
Income Calculator
At $1.32 / yr per share
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