OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) announced a monthly dividend on Wednesday, May 1st, Wall Street Journal reports. Shareholders of record on Friday, July 19th will be given a dividend of 0.105 per share on Wednesday, July 31st. This represents a $1.26 annualized dividend and a yield of 16.69%. The ex-dividend date of this dividend is Friday, July 19th.
OFS Credit has raised its dividend payment by an average of 52.7% per year over the last three years. OFS Credit has a payout ratio of 116.7% 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 $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
NASDAQ:OCCI opened at $7.55 on Thursday. The stock has a 50-day simple moving average of $7.43 and a two-hundred day simple moving average of $7.14. OFS Credit has a 52-week low of $5.47 and a 52-week high of $8.52. The firm has a market capitalization of $118.91 million, a PE ratio of 13.02 and a beta of 1.33.
Insider Activity
In other news, major shareholder Eagle Point Credit Management sold 5,124 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $24.16, for a total value of $123,795.84. Following the transaction, the insider now directly owns 36,964 shares in the company, valued at $893,050.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 14,658 shares of company stock worth $352,155 over the last ninety days. Corporate insiders own 2.76% of the company’s stock.
OFS Credit Company Profile
OFS Credit Company, Inc is a fund of OFS Advisor.
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