OFS Credit Company, Inc. (NASDAQ:OCCI) Declares $0.05 Monthly Dividend

OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend on Thursday, April 16th. Investors of record on Friday, May 15th will be paid a dividend of 0.05 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 20.2%. The ex-dividend date is Friday, May 15th.

OFS Credit has a dividend payout ratio of 158.1% 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 research analysts expect OFS Credit to earn $0.86 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 158.1%.

OFS Credit Stock Down 0.3%

Shares of NASDAQ:OCCI opened at $2.97 on Friday. OFS Credit has a 12 month low of $2.62 and a 12 month high of $6.82. The company’s fifty day simple moving average is $3.13 and its 200 day simple moving average is $4.28. The firm has a market cap of $86.40 million, a price-to-earnings ratio of -2.27 and a beta of 0.61.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its position in shares of OFS Credit by 21.6% in the 1st quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock valued at $108,000 after acquiring an additional 3,138 shares during the period. Virtus Investment Advisers LLC grew its position in shares of OFS Credit by 0.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock valued at $2,039,000 after acquiring an additional 3,796 shares during the period. Osaic Holdings Inc. grew its position in shares of OFS Credit by 61.3% in the 2nd quarter. Osaic Holdings Inc. now owns 10,783 shares of the company’s stock valued at $67,000 after acquiring an additional 4,100 shares during the period. Raymond James Financial Inc. bought a new position in shares of OFS Credit in the 2nd quarter valued at about $26,000. Finally, TIAA Trust National Association bought a new position in shares of OFS Credit in the 3rd quarter valued at about $54,000. Institutional investors own 23.77% of the company’s stock.

About OFS Credit

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.