OFS Capital Corporation (OFS) To Go Ex-Dividend on March 20th

OFS Capital Corporation (NASDAQ:OFS) announced a quarterly dividend on Thursday, February 26th, NASDAQ Dividends reports. Investors of record on Friday, March 20th will be given a dividend of 0.17 per share by the investment management company on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 21.6%. The ex-dividend date of this dividend is Friday, March 20th.

OFS Capital has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 3 years. OFS Capital has a payout ratio of 87.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect OFS Capital to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 67.3%.

OFS Capital Trading Up 1.3%

OFS opened at $3.15 on Wednesday. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.45. OFS Capital has a twelve month low of $3.06 and a twelve month high of $9.80. The company has a 50-day simple moving average of $4.38 and a 200 day simple moving average of $5.65.

OFS Capital (NASDAQ:OFS) last released its earnings results on Monday, March 2nd. The investment management company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). OFS Capital had a negative net margin of 81.33% and a positive return on equity of 8.75%. The firm had revenue of ($17.96) million during the quarter, compared to the consensus estimate of $10.50 million. On average, research analysts predict that OFS Capital will post 1.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded OFS Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, January 7th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, OFS Capital presently has an average rating of “Reduce” and an average target price of $7.00.

About OFS Capital

OFS Capital Corporation (NASDAQ: OFS) is a business development company (BDC) that provides customized debt and equity financing solutions to U.S. middle-market companies. As an externally managed BDC, OFS Capital focuses on sponsoring capital structures that support growth initiatives, recapitalizations, acquisitions and other strategic transactions. The firm targets companies that demonstrate strong cash flow potential and scalable business models across a range of industries.

The company’s investment portfolio typically includes senior secured loans, unitranche facilities, mezzanine debt and equity co-investments.