OFS Capital Co. Plans Quarterly Dividend of $0.34 (NASDAQ:OFS)

OFS Capital Co. (NASDAQ:OFS) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Tuesday, June 18th will be given a dividend of 0.34 per share by the investment management company on Friday, June 28th. This represents a $1.36 annualized dividend and a yield of 14.33%. The ex-dividend date of this dividend is Tuesday, June 18th.

OFS Capital has increased its dividend payment by an average of 15.9% annually over the last three years and has raised its dividend every year for the last 3 years. OFS Capital has a payout ratio of 114.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect OFS Capital to earn $1.22 per share next year, which means the company may not be able to cover its $1.36 annual dividend with an expected future payout ratio of 111.5%.

OFS Capital Trading Down 1.7 %

OFS stock traded down $0.16 during trading hours on Friday, hitting $9.49. 88,251 shares of the stock were exchanged, compared to its average volume of 30,935. The company has a 50-day simple moving average of $10.08 and a two-hundred day simple moving average of $10.72. OFS Capital has a 12 month low of $9.10 and a 12 month high of $12.44. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.78.

OFS Capital (NASDAQ:OFS) last released its quarterly earnings results on Tuesday, March 5th. The investment management company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). The business had revenue of $13.48 million for the quarter, compared to the consensus estimate of $14.53 million. OFS Capital had a positive return on equity of 12.33% and a negative net margin of 23.41%. During the same period in the prior year, the business posted $0.35 earnings per share. On average, sell-side analysts expect that OFS Capital will post 1.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of OFS Capital from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th.

OFS Capital Company Profile

OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It provides flexible capital solutions primarily through debt capital and to a lesser extent, minority equity investments serving the needs of U.S.-based middle-market companies across a broad array of industries.