OFS Credit Company, Inc. (NASDAQ:OCCI) to Issue Monthly Dividend of $0.05

OFS Credit Company, Inc. (NASDAQ:OCCI) declared a monthly dividend on Monday, August 17th. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.05 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 24.3%. The ex-dividend date of this dividend is Tuesday, September 15th.

OFS Credit has a payout ratio of 127.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

OFS Credit Stock Down 1.6%

Shares of OCCI stock opened at $2.47 on Tuesday. The firm has a market capitalization of $72.55 million, a price-to-earnings ratio of -2.02 and a beta of 0.72. The firm has a fifty day moving average of $2.56 and a 200-day moving average of $3.03. OFS Credit has a 12-month low of $2.15 and a 12-month high of $6.14.

OFS Credit (NASDAQ:OCCI) last released its quarterly earnings results on Tuesday, June 9th. The company reported $0.19 earnings per share for the quarter. The firm had revenue of $9.20 million for the quarter.

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.