Dividend Cut Alert: 2 BDCs With Unsustainable Yields

It has become a consensus in the market that many BDCs, sooner or later, will have to deliver unpleasant dividend cuts. For example, the sector average dividend coverage level is 100%, which does not look promising amid a lower base rate environment. Yet, as in the case with almost any average, it consists of several positive and negative outliers.

Seeking Alpha • Dec 11, 2025

Two Classes Of Mortgage REITs

Agency mortgage REITs duel to the dividend cut. There are 7 facing off. The top 3 are much better than the other 4. Valuations are important and awful. Deal with it.

Seeking Alpha • Dec 11, 2025

Oaktree Specialty Lending: I Don't Trust The Dividend

Oaktree Specialty Lending faces severe portfolio performance issues, with a 6.5% cost-based non-accrual ratio and inconsistent dividend coverage. OCSL's high non-accruals, despite an 83% first-lien allocation, raise significant concerns about loan quality and dividend sustainability. With 91% floating-rate exposure and falling net investment income, OCSL is at high risk of a dividend cut if interest rates decline.

Seeking Alpha • Dec 9, 2025

The Hidden Risk In BDC Market That Nobody Is Talking About

BDCs are facing pressures from multiple fronts. Yet, they do not have much ammo left to fight back via portfolio growth. This is not good for shareholder and BDC managers, who earn fees based on asset size and earnings results.

Seeking Alpha • Dec 1, 2025

Oaktree Specialty Lending: Pricing An Inevitable Decline

Oaktree Specialty Lending has historically generated mediocre annualized returns for buy-and-hold investors. Rising defaults and write-offs raise concerns over further dividend cuts. Structural shortcomings prevent the company from building a loan-loss reserve, translating to practically an inevitable decline in NAV.

Seeking Alpha • Nov 27, 2025

12% Yields: Why Blackstone Secured Lending Beats Oaktree Specialty Lending

Blackstone Secured Lending and Oaktree Specialty Lending have pulled back sharply. I compare them side by side. I share why I prefer BXSL over OCSL, and what it would take for me to buy them.

Seeking Alpha • Nov 22, 2025

Oaktree Specialty Lending: The Yield Trap Is Still Active, Downgrade

Oaktree Specialty Lending trades at a compelling discount, which, in light of the relatively positive earnings report, might create an interesting buying opportunity. Yet, while the discount looks attractive, compared to its closest peers, OCSL is actually similarly priced. Also, the dividend coverage remains tight, even after the recent cut.

Seeking Alpha • Nov 21, 2025

Oaktree Specialty Lending Corporation (OCSL) Q4 2025 Earnings Call Transcript

Oaktree Specialty Lending Corporation ( OCSL ) Q4 2025 Earnings Call November 18, 2025 11:00 AM EST Company Participants Clark Koury Mathew Pendo - President Armen Panossian - CEO & Co-Chief Investment Officer Raghav Khanna - Co-Chief Investment Officer Christopher McKown - MD,CFO & Treasurer Conference Call Participants Melissa Wedel - JPMorgan Chase & Co, Research Division Sean-Paul Adams - B. Riley Securities, Inc., Research Division Presentation Operator Welcome, and thank you for joining Oaktree Specialty Lending Corporation's First Fiscal Quarter and Full Year 2025 Conference Call.

Seeking Alpha • Nov 18, 2025

Oaktree Specialty Lending Corporation Announces Fourth Fiscal Quarter and Full Year 2025 Financial Results

LOS ANGELES--(BUSINESS WIRE)--Oaktree Specialty Lending Corporation (NASDAQ:OCSL) (“Oaktree Specialty Lending” or the “Company”), a specialty finance company, today announced its financial results for the fiscal quarter and year ended September 30, 2025. Financial Highlights for the Quarter and Year Ended September 30, 2025 Total investment income was $77.3 million ($0.88 per share) and $316.8 million ($3.68 per share) for the fourth fiscal quarter of 2025 and full year, as compared with $75.3.

Business Wire • Nov 18, 2025

Oaktree Specialty Lending (OCSL) Q4 Earnings and Revenues Surpass Estimates

Oaktree Specialty Lending (OCSL) came out with quarterly earnings of $0.4 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.55 per share a year ago.

Zacks Investment Research • Nov 18, 2025