OFS Credit Company, Inc. (NASDAQ:OCCI) Declares $0.11 Monthly Dividend

OFS Credit Company, Inc. (NASDAQ:OCCI) declared a monthly dividend on Tuesday, May 7th, Wall Street Journal reports. Investors of record on Friday, July 19th will be paid a dividend of 0.105 per share on Wednesday, July 31st. This represents a $1.26 dividend on an annualized basis and a yield of 16.98%. The ex-dividend date is Friday, July 19th.

OFS Credit has increased its dividend payment by an average of 52.7% annually over the last three years. OFS Credit has a dividend payout ratio of 116.7% meaning 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 $1.08 per share next year, which means the company may not be able to cover its $1.26 annual dividend with an expected future payout ratio of 116.7%.

OFS Credit Stock Performance

Shares of OCCI traded up $0.10 during mid-day trading on Wednesday, hitting $7.42. 65,948 shares of the company’s stock were exchanged, compared to its average volume of 120,924. The company has a market cap of $80.28 million, a price-to-earnings ratio of -14.64 and a beta of 1.29. The stock’s 50-day moving average is $7.07 and its 200-day moving average is $6.76. OFS Credit has a fifty-two week low of $5.47 and a fifty-two week high of $10.15.

OFS Credit (NASDAQ:OCCI) last issued its quarterly earnings results on Friday, March 8th. The company reported $0.45 EPS for the quarter. The business had revenue of $8.44 million during the quarter. As a group, equities research analysts anticipate that OFS Credit will post 1.14 EPS for the current year.

Insider Buying and Selling

In other OFS Credit news, major shareholder Eagle Point Credit Management sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $22.64, for a total transaction of $33,960.00. Following the completion of the transaction, the insider now owns 109,328 shares in the company, valued at approximately $2,475,185.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 44,303 shares of company stock valued at $1,002,992 in the last three months. 9.43% of the stock is owned by corporate insiders.

OFS Credit Company Profile

OFS Credit Company, Inc is a fund of OFS Advisor.