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

OFS Capital Co. (NASDAQ:OFS) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Tuesday, June 18th will be paid 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 dividend yield of 14.33%. The ex-dividend date is Tuesday, June 18th.

OFS Capital has increased its dividend by an average of 15.9% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. OFS Capital has a payout ratio of 114.3% meaning 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 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 Stock Performance

OFS traded down $0.16 during trading on Friday, reaching $9.49. 88,251 shares of the company were exchanged, compared to its average volume of 30,935. OFS Capital has a 52 week low of $9.10 and a 52 week high of $12.44. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $10.08 and a 200 day moving average of $10.72. The stock has a market cap of $127.17 million, a P/E ratio of -9.59 and a beta of 1.73.

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

Analysts Set New Price Targets

Separately, StockNews.com raised OFS Capital from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th.

About OFS Capital

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.