OFS Credit Company, Inc. (OCCI) To Go Ex-Dividend on March 16th

OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend on Monday, February 23rd. Stockholders of record on Monday, March 16th will be paid a dividend of 0.05 per share on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 21.2%. The ex-dividend date of this dividend is Monday, March 16th.

OFS Credit has a dividend payout ratio of 166.3% 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 Credit to earn $0.86 per share next year, which means the company may not be able to cover its $1.43 annual dividend with an expected future payout ratio of 166.3%.

OFS Credit Stock Up 0.4%

OCCI opened at $2.83 on Friday. OFS Credit has a twelve month low of $2.79 and a twelve month high of $7.17. The company has a 50-day moving average price of $4.04 and a 200 day moving average price of $4.76. The company has a market cap of $44.57 million, a PE ratio of -2.16 and a beta of 0.63.

OFS Credit (NASDAQ:OCCI) last posted its quarterly earnings data on Wednesday, December 10th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The company had revenue of $11.97 million during the quarter, compared to the consensus estimate of $12.77 million. As a group, sell-side analysts expect that OFS Credit will post 0.89 earnings per share for the current year.

OFS Credit Company Profile

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.