OFS Capital Corporation (NASDAQ:OFS) Announces Quarterly Dividend of $0.17

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) dividend on an annualized basis and a dividend yield of 21.6%. The ex-dividend date is Friday, March 20th.

OFS Capital has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. OFS Capital has a payout ratio of 87.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Stock Up 1.3%

Shares of NASDAQ OFS opened at $3.15 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.02 and a quick ratio of 0.02. The stock has a fifty day simple moving average of $4.38 and a two-hundred day simple moving average of $5.65. OFS Capital has a 1-year low of $3.06 and a 1-year high of $9.80.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of OFS Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $7.00.

OFS Capital Company Profile

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.