SmarterDividends
OCSL

Oaktree Specialty Lending (OCSL) Dividend

Oaktree Specialty Lending Corporation · Financial Services · Asset Management · quarterly payer

$12.50

Undervalued · +66% Add to Portfolio

As of Nov 8, 2026, Oaktree Specialty Lending (OCSL) pays a quarterly dividend of $0.33 per share, or $1.32 a year, a 10.56% yield at its $12.50 share price. It pays every quarter, usually in March, June, September and December. It has a dividend safety grade of D.

Forward Yield

10.56%

Annual Dividend

$1.32

Payout Ratio

321%

5-Yr Growth

6.8%

Ex-Date

Sep 15, 2026

Frequency

Quarterly

Key facts about OCSL's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 8, 2026, Oaktree Specialty Lending Corporation (OCSL) has a forward dividend yield of 10.56%, based on an annual dividend of $1.32 per share and a share price of $12.50.
  • As of Nov 8, 2026, OCSL's dividend safety grade from SmarterDividends is D (44 out of 100), which rates the dividend as unsafe.
  • OCSL last cut its regular dividend in 2025.
  • OCSL's most recent ex-dividend date was Sep 15, 2026, for a dividend of $0.33 per share.
  • As of Nov 8, 2026, OCSL pays out 321% of its trailing 12-month earnings as dividends (its payout ratio).
  • OCSL's dividend has grown at an average rate of 6.8% a year over the past five years.
  • As of Nov 8, 2026, SmarterDividends' blended fair-value estimate for OCSL is $20.77 per share, 66% above the $12.50 share price, so OCSL screens as undervalued.
  • Oaktree Specialty Lending Corporation (OCSL) pays its dividend quarterly, 4 times a year.
  • Oaktree Specialty Lending Corporation (OCSL) has raised its regular dividend 20 times and cut it 13 times across the 124 payments on record since 2008. Its most recent change was a 2.9% cut to $0.330 per share, going ex-dividend on Sep 15, 2026.
Cite this page

SmarterDividends, "OCSL Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 8, 2026, https://smarterdividends.com/stocks/OCSL

Is OCSL a good dividend stock?

Mixed

Oaktree Specialty Lending Corporation (OCSL) pays a quarterly dividend yielding 10.56% ($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
10.56%
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
26.0
5-Yr Total Return
-43%
52-Week Range
$10.63 – $13.91
Dividend Safety
D · 44/100
Ever Cut?
Yes (2025)

OCSL dividend raises and cuts

Oaktree Specialty Lending Corporation (OCSL) has raised its regular dividend 20 times and cut it 13 times across the 124 payments on record since 2008. Its most recent change was a 2.9% cut to $0.330 per share, going ex-dividend on Sep 15, 2026.

Ex-dateChangeOld → newMove
Sep 15, 2026Cut$0.340 → $0.330−2.9%
Jun 15, 2026Cut$0.400 → $0.340−15.0%
Sep 15, 2025Cut$0.420 → $0.400−4.8%
Jun 16, 2025Cut$0.470 → $0.420−10.6%
Mar 17, 2025Cut$0.550 → $0.470−14.5%
Mar 14, 2023Raise$0.510 → $0.550+7.8%
Sep 14, 2022Raise$0.495 → $0.510+3.0%
Jun 14, 2022Raise$0.480 → $0.495+3.1%
Mar 14, 2022Raise$0.465 → $0.480+3.2%
Dec 14, 2021Raise$0.435 → $0.465+6.9%
Sep 14, 2021Raise$0.390 → $0.435+11.5%
Jun 14, 2021Raise$0.360 → $0.390+8.3%
Show all 33 changes since 2008
Ex-dateChangeOld → newMove
Mar 12, 2021Raise$0.330 → $0.360+9.1%
Dec 14, 2020Raise$0.315 → $0.330+4.8%
Sep 14, 2020Raise$0.285 → $0.315+10.5%
Jun 14, 2018Raise$0.255 → $0.285+11.8%
Mar 14, 2018Cut$0.375 → $0.255−32.0%
Sep 14, 2017Raise$0.0600 → $0.375+525.0%
Mar 13, 2017Cut$0.180 → $0.0600−66.7%
Mar 12, 2015Cut$0.276 → $0.180−34.8%
Sep 11, 2014Raise$0.249 → $0.276+10.8%
Jan 13, 2014Raise$0.150 → $0.249+66.0%
Dec 11, 2013Cut$0.288 → $0.150−47.9%
Jan 11, 2012Cut$0.321 → $0.288−10.3%
Dec 31, 2010Cut$0.330 → $0.321−2.7%
Nov 1, 2010Raise$0.300 → $0.330+10.0%
Aug 30, 2010Cut$0.960 → $0.300−68.7%
May 18, 2010Raise$0.900 → $0.960+6.7%
Mar 1, 2010Raise$0.810 → $0.900+11.1%
Dec 8, 2009Raise$0.750 → $0.810+8.0%
May 21, 2009Cut$1.14 → $0.750−34.2%
Dec 26, 2008Raise$0.960 → $1.14+18.7%
Dec 17, 2008Raise$0.930 → $0.960+3.2%
Every OCSL payment →Download every raise and cut (CSV)
OCSL ex-dividend date & scheduleNext ex-date Sep 15, 2026 · full ex-dividend historyView →OCSL dividend historyEvery payment, totals by year, raises and cutsView →OCSL dividend calculator100 shares pay $132.00 a year, $33.00 each quarterCalculate →OCSL total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

Frequently Asked Questions

Is OCSL a good dividend stock?

Mixed. Oaktree Specialty Lending Corporation (OCSL) pays a quarterly dividend yielding 10.56% ($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.

Is OCSL undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, OCSL's fair value is about $20.77 versus a $12.50 share price — so it looks undervalued (+66% vs. fair value).

Is OCSL's dividend safe?

OCSL has a dividend-safety grade of D (44/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2025, debt and yield-versus-history.

What is OCSL's fair value?

Our blended fair-value estimate for OCSL is about $20.77 per share, roughly 66% above the current $12.50 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is OCSL a buy, hold, or sell?

We don't issue formal ratings, but on the data OCSL screens as "mixed" and undervalued. Oaktree Specialty Lending Corporation (OCSL) pays a quarterly dividend yielding 10.56% ($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. This is research for your own analysis, not investment advice.

Will OCSL cut its dividend?

OCSL earns a dividend-safety grade of D (44/100), and has cut its dividend before (last in 2025). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does OCSL pay a dividend?

Yes. Oaktree Specialty Lending Corporation pays a quarterly dividend of about $1.32 per share annually, a forward yield of roughly 10.56%.

How much dividend does 100 shares of OCSL pay?

At $1.32 per share a year, 100 shares of OCSL pay $132.00 a year in dividends before tax, about $33.00 each quarter. Buying them costs about $1,250 at the Nov 8, 2026 price.

What is OCSL's dividend yield?

As of Nov 8, 2026, OCSL's forward dividend yield is 10.56%, based on a $1.32 annual dividend and a $12.50 share price.

What is OCSL's dividend per share?

As of Nov 8, 2026, OCSL pays $1.32 per share per year, distributed on a quarterly basis.

What is OCSL's dividend payout ratio?

As of Nov 8, 2026, OCSL's payout ratio is 321% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has OCSL grown its dividend?

OCSL does not currently have a long dividend-growth streak on record.

When is the next OCSL ex-dividend date?

As of Nov 8, 2026, OCSL's next ex-dividend date hasn't been announced. The most recent was Sep 15, 2026, for $0.33 per share.

OCSL Dividend News

OCSL
CutOCSL·Jun 16, 2026

Oaktree Specialty Lending Cuts Quarterly Dividend

Oaktree Specialty Lending cut its quarterly dividend to $0.34 per share from $0.40, with the shares carrying a 13.12% forward annual yield.

Income Calculator

At $1.32 / yr per share

Per payment (quarterly)$33.00
Annual$132.00
Monthly avg$11.00
Full OCSL dividend calculator →

Similar Dividend Stocks

JPMJPMJPMorgan Chase & Co.1.97%Financial ServicesVVVisa Inc.0.74%Financial ServicesMAMAMastercard Incorporated0.53%Financial ServicesBACBACBank of America Corporation2.59%Financial Services

Compare OCSL

OCSL vs JPMOCSL vs VOCSL vs MAOCSL vs BAC

Explore more

Lists and tools related to OCSL