Business
Oaktree Specialty Lending Corporation Announces Fourth Fiscal Quarter and Full Year 2021 Financial Results and Declares Increased Distribution of $0.155 Per Share
LOS ANGELES, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Oaktree Specialty Lending Corporation (NASDAQ: OCSL) (“Oaktree Specialty Lending” or the “Company”), a
About this update from Oaktree Specialty Lending Corporation
[{"type":"text","content":"LOS ANGELES, Nov. 16, 2021 (GLOBE NEWSWIRE) -- 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, 2021. Financial Highlights for the Quarter and Year Ended September 30, 2021 Total investment income was $63.8 million ($0.35 per share) and $209.4 million ($1.29 per share) for the fourth fiscal quarter and full year, respectively, as compared with $65.4 million ($0.36 per share) and $143.1 million ($1.02 per share) for the third fiscal quarter of 2021 and the full year of 2020, respectively. The decrease for the quarter primarily reflected lower prepayment and amendment fees, partially offset by higher interest income and dividend income. The increase for the full year primarily reflected higher interest income, prepayment fees and dividend income. Excluding income accretion related to the Company's merger with Oaktree Strategic Income Corporation (\"OCSI\") (the \"Merger\"), adjusted total investment income was $58.2 million ($0.32 per share) and $198.1 million ($1.22 per share) for fiscal quarter and full year ended September 30, 2021, respectively. GAAP net investment income was $33.0 million ($0.18 per share) and $97.1 million ($0.60 per share) for the fourth fiscal quarter and full year, respectively, as compared with $35.9 million ($0.20 per share) and $72.0 million ($0.51 per share) for the third fiscal quarter of 2021 and the full year of 2020, respectively. The decrease for the quarter was principally from lower total investment income, higher base management fees (net of waivers) and higher interest expense, partially offset by lower incentive fees. The full year increase was primarily driven by higher total investment income, partially offset by higher base management fees (net of waivers), incentive fees, interest expense and professional fees.Adjusted net investment income was $29.1 million ($0.16 per share) and $103.4 million ($0.64 per share) for the fourth fiscal quarter and full year, as compared with $33.7 million ($0.19 per share) and $71.6 million ($0.51 per share) for the third fiscal quarter of 2021 and the full year of 2020, respectively. The decrease for the quarter primarily reflected lower adjusted total investment income and higher net ex...