OFS Capital Co. (OFS) To Go Ex-Dividend on March 21st

OFS Capital Co. (NASDAQ:OFS) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders of record on Friday, March 21st will be paid a dividend of 0.34 per share by the investment management company on Monday, March 31st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 14.30%. The ex-dividend date is Friday, March 21st.

OFS Capital has increased its dividend payment by an average of 20.3% annually over the last three years. OFS Capital has a payout ratio of 138.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect OFS Capital to earn $1.01 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 134.7%.

OFS Capital Stock Up 0.1 %

Shares of NASDAQ OFS opened at $9.51 on Wednesday. The business’s fifty day simple moving average is $8.38 and its 200-day simple moving average is $8.29. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.55. The stock has a market cap of $127.43 million, a P/E ratio of -105.65 and a beta of 1.76. OFS Capital has a 12-month low of $7.75 and a 12-month high of $10.14.

OFS Capital (NASDAQ:OFS) last posted its quarterly earnings data on Monday, March 3rd. The investment management company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. OFS Capital had a positive return on equity of 11.26% and a negative net margin of 2.29%. The business had revenue of $11.65 million during the quarter, compared to the consensus estimate of $10.30 million. As a group, equities analysts predict that OFS Capital will post 1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On OFS Capital

A hedge fund recently raised its stake in OFS Capital stock. Bank of America Corp DE lifted its position in OFS Capital Co. (NASDAQ:OFS) by 245.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,079 shares of the investment management company’s stock after acquiring an additional 5,029 shares during the quarter. Bank of America Corp DE owned approximately 0.05% of OFS Capital worth $57,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 10.81% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of OFS Capital from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th.

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.