OFS Credit Company, Inc. (OCCI) to Issue Monthly Dividend of $0.12 on February 27th

OFS Credit Company, Inc. (NASDAQ:OCCI) declared a monthly dividend on Friday, January 16th. Investors of record on Friday, February 13th will be given a dividend of 0.115 per share on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 33.1%. The ex-dividend date is Friday, February 13th.

OFS Credit has a payout ratio of 173.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect OFS Credit to earn $0.86 per share next year, which means the company may not be able to cover its $1.49 annual dividend with an expected future payout ratio of 173.3%.

OFS Credit Stock Up 2.1%

NASDAQ OCCI traded up $0.09 during trading on Wednesday, hitting $4.18. The company’s stock had a trading volume of 260,064 shares, compared to its average volume of 349,420. The firm has a 50 day moving average price of $4.78 and a 200 day moving average price of $5.17. The firm has a market cap of $65.76 million, a P/E ratio of -11.28 and a beta of 0.59. OFS Credit has a 52 week low of $4.03 and a 52 week high of $7.32.

OFS Credit (NASDAQ:OCCI) last posted its quarterly earnings data on Wednesday, December 10th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $11.97 million during the quarter, compared to the consensus estimate of $12.77 million. On average, equities analysts expect that OFS Credit will post 0.89 earnings per share for the current year.

OFS Credit Company Profile

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.

The company’s investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.