Oaktree Specialty Lending holds annual and special meetings

Oaktree Specialty Lending Corporation (NASDAQ:OCSL), a specialty finance company with a market capitalization of $1.32 billion and an impressive dividend yield of 16.56%, conducted its annual and special stockholders’ meetings on Monday, according to a recent SEC filing. According to InvestingPro, the company maintains strong financial health with a current ratio of 7.51, indicating robust liquidity management. During the annual meeting, Phyllis R. Caldwell was elected to the company’s Board of Directors to serve until the 2028 annual meeting. Caldwell received 29,794,756 votes in favor, with 4,691,860 withheld and 23,999,170 broker non-votes. Notable for investors, InvestingPro data shows OCSL has maintained dividend payments for 18 consecutive years, demonstrating consistent shareholder returns under strong corporate governance.

Additionally, stockholders ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending September 30, 2025. The decision was made with 57,314,188 votes for, 686,827 against, and 484,771 abstentions.

At the special meeting held the same day, shareholders approved a proposal authorizing the company, with the Board of Directors’ approval, to issue shares of its common stock at a price below the current net asset value per share. The condition is that the number of shares issued does not exceed 25% of the then outstanding common stock. The proposal garnered 32,420,864 votes for with affiliates, 30,336,960 votes for without affiliates, 13,389,054 votes against, and 1,206,350 abstentions.

These decisions are part of the company’s ongoing governance and financial management processes. The information is based on a press release statement filed with the SEC. For deeper insights into OCSL’s governance and financial metrics, InvestingPro offers a comprehensive research report with additional ProTips and detailed analysis of the company’s performance metrics.

In other recent news, Oaktree Specialty Lending Corporation announced the pricing of a $300 million note offering with a 6.340% interest rate, set to mature on February 27, 2030. The company plans to utilize the proceeds to pay down existing debt from its revolving credit facilities and for general corporate purposes. The transaction is expected to close on February 27, 2025, pending standard closing conditions. A consortium of financial institutions, including SMBC Nikko Securities America, Inc. and BNP Paribas (OTC:BNPQY) Securities Corp., is managing the book-running, with KeyBanc Capital Markets Inc. and Jefferies LLC acting as co-managers. Investors are advised to review the investment details and associated risks as outlined in the filed documents with the Securities and Exchange Commission. The notes can be redeemed at any time at the company’s discretion, at par plus a "make-whole" premium. These recent developments provide insight into Oaktree Specialty Lending’s strategic financial maneuvers.

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